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[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 8 sources · 4 days · First seen 23 days ago · Last updated 19 days ago

Chandra Asri acquisition of Cycle & Carriage

Overview

PT Chandra Asri Pacific Tbk (TPIA) has entered into an agreement to acquire the automotive business Cycle & Carriage in Singapore and Malaysia. This acquisition is intended to support the Chandra Asri Group’s regional expansion into an integrated platform for energy, infrastructure, and mobility in Southeast Asia.

Jardine Cycle & Carriage (JC&C) confirmed the sale of its automotive distribution and retail operations to CCHPL Holdings, a subsidiary of TPIA. The transaction is valued at a base price of US$207 million, with some reports suggesting the total may reach approximately S$265 million.

Following the divestment, JC&C plans to rename itself Jardine Matheson Southeast Asia (JMSEA) to refocus its resources on core markets in Indonesia and Vietnam. The deal remains subject to regulatory requirements and approvals from various automotive principals.

Entities

PT Chandra Asri Pacific Tbk · Mizuho Bank · Jardine Cycle & Carriage · Prajogo Pangestu · CCHPL Holdings

Timeline

19 days ago

[BUSINESS] 3 sources
Jardine Cycle & Carriage sells Singapore and Malaysia motor business
Jardine Cycle & Carriage is selling its Singapore and Malaysia automotive businesses to Indonesia’s PT Chandra Asri Pacific Tbk for approximately US$207 million to focus on core markets.
23 days ago

[BUSINESS] 5 sources
Chandra Asri Pacific to acquire Cycle & Carriage in Singapore and Malaysia
PT Chandra Asri Pacific Tbk is acquiring the automotive business Cycle & Carriage in Singapore and Malaysia to expand its regional mobility, energy, and infrastructure platform.

Sources

aisj.org · antaranews.com · bitcoinethereumnews.com · cnbcindonesia.com · drwealth.com · katadata.co.id · medcom.id · otomotif.liputan6.com