Indonesian Billionaire’s Chandra Asri To Buy Jardine Cycle & Carriage’s Auto Dealership In Malaysia, Singapore
The acquisition will complement existing SIngapore energy business of Indonesian billionaire Prajogo Pangestu's Chandra Asri.
Australian-owned Jardine Cycle & Carriage (Jardine C&C) has entered into a conditional agreement to sell its automotive distribution and retail operations in Singapore and Malaysia to Indonesia's Chandra Asri Pacific. The deal, valued at approximately S$265 million in cash, plus a S$333 million loan that will be novated to the buyer, is expected to generate a gain of around US$221 million for Jardine C&C.
The transaction is anticipated to increase the company's net tangible asset per share by 2.4 percent, from US$19.70 to US$20.20, based on full-year 2025 financial figures. On a pro forma basis, earnings per share would rise by 20.8 percent, from US$2.52 to US$3.05, while excluding non-trading items, EPS would fall by 3.9 percent, from US$2.81 to US$2.70.
Jardine C&C believes the sale will enable them to focus on their core markets of Indonesia and Vietnam while positioning Cycle & Carriage for continued success under its new owner.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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