Business · Singapore Bureau
Jardine C&C divests Singapore, Malaysia dealerships to Chandra Asri
Jardine Cycle & Carriage is selling its automotive dealership operations in Singapore and Malaysia to Indonesia's Chandra Asri in a transaction valued at approximately $280 million. The deal also includes the assumption of $333 million in loans by the buyer.
LSN Singapore ·
Jardine Cycle & Carriage (JC&C), the regional automotive and consumer goods conglomerate, has agreed to divest its Singapore and Malaysia dealership operations to PT Chandra Asri, an Indonesian company. The transaction is structured to deliver JC&C a gain of approximately $280 million on the sale.
Under the agreement, Chandra Asri will acquire the dealership business and assume $333 million in loans currently owed by JC&C, according to transaction details. The assumption of this debt obligation forms a material component of the overall deal structure.
The divestiture marks a significant portfolio shift for JC&C, which has maintained a substantial automotive presence across Southeast Asia. The sale of the Singapore and Malaysia dealerships represents a strategic repositioning of the company's regional operations.
Chandra Asri's acquisition of the dealership network expands the Indonesian company's footprint into the broader Southeast Asian automotive market, strengthening its position across the region's key automotive retail sectors.