Proposed sale of the Cycle & Carriage business in Singapore and Malaysia
Allen & Gledhill, as transaction counsel, is advising Jardine Cycle & Carriage Limited (“JC&C”) on the sale of its automotive business in Singapore and Malaysia to CCHPL Holdings Pte. Ltd., an indirect wholly-owned subsidiary of Indonesia-listed PT Chandra Asri Pacific Tbk.
The estimated purchase price payable at closing is approximately S$265 million, with an earn-out of up to S$30 million.
Advising JC&C are Partners Lauren Chung, Hilary Low, Fock Kah Yan, Eugene Ho, and Elsa Chen from Allen & Gledhill.
Advising JC&C on Malaysian law issues is Partner Moy Pui Yee from Rahmat Lim & Partners.
Advising JC&C on Myanmar law issues is Senior Consultant Win Naing from Allen & Gledhill (Myanmar).
