Chandra Asri to buy Cycle & Carriage's Singapore, Malaysia auto businesses

Move marks further diversification by the Indonesian petrochemical group

Mercedes Benz showrooms in Singapore — like the one pictured on Alexandra Road — are among the assets due to change hands when Chandra Asri acquires Cycle & Carriage's automotive business in the city-state and Malaysia. (Screenshot from Mercedes Benz Singapore's Facebook page)

JAKARTA — Chandra Asri Pacific, a leading Indonesian petrochemical producer, has agreed to buy Cycle & Carriage's automotive businesses in Singapore and Malaysia, marking another step in the company's regional expansion and diversification.

Source: Read the original article on asia.nikkei.com