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PT Chandra Asri Pacific has signed a Conditional Sales and Purchase Agreement (CSPA) to acquire Cycle & Carriage's automotive business in Singapore and Malaysia. This strategic acquisition is an important step in continuing Chandra Asri Group's regional expansion and supporting the Group's long-term strategy to build an integrated platform in energy, infrastructure, and mobility in Southeast Asia.
Cycle & Carriage is one of the automotive groups that has a long history in the Southeast Asian region since 1899 and represents various leading global automotive brands in Singapore and Malaysia. This acquisition becomes a strategic platform for Chandra Asri Group to expand its reach in the mobility value chain while continuing the Group's existing retail expansion in Singapore. Chandra Asri Group is committed to maintaining Cycle & Carriage's established identity, capabilities, customer and OEM relationships, management, and human resources, while creating future growth and collaboration opportunities across the Group's continuously expanding regional platform. The completion of this transaction remains dependent on OEM approvals and the fulfillment of other applicable requirements.
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