Jardine Is Said to Explore Sale of Southeast Asia Car Dealership

A unit of Jardine Matheson Group is considering selling its car dealership in Malaysia and Singapore, people familiar with the matter said.

Singapore-listed Jardine Cycle & Carriage Ltd. is working with an adviser on a possible sale of the dealership and has reached out to potential buyers, the people said, asking not to be identified because the information is private. A transaction could value the business at $250 million to $350 million, they said.