Jardine Cycle & Carriage (C07) said on Aug, 21 2026 that it has signed a conditional share and asset purchase agreement with CCHPL Holdings, a wholly owned unit of Indonesia-listed PT Chandra Asri Pacific Tbk, to divest its Cycle & Carriage operations in Singapore and Malaysia.

The deal involves the sale of all shares in ten Singapore subsidiaries, a 97.14 per cent stake in Malaysia-listed Cycle & Carriage Bintang as well as other Malaysian units, and the associated trademarks used in Singapore, Malaysia and Myanmar.

The estimated purchase price is about 265 million Singapore dollars in cash, with an additional earn-out of up to 30 million Singapore dollars. The buyer will also assume 333 million Singapore dollars of inter-company loans.

Jardine Cycle & Carriage expects to book a disposal gain of roughly 221 million US dollars and plans to use the proceeds to cut corporate net debt. The transaction is subject to regulatory and contractual approvals and must close no later than Feb, 28 2027.

SGX classified the divestment as a discloseable transaction because the consideration represents about 5.8 per cent of the company’s market capitalisation.