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Jardine Matheson Said to Consider Selling More Assets, Expanding Into Developed Asia-Pacific Markets
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Jardine Matheson Holdings is considering selling more assets as part of a restructuring plan to transform the group into an investment company focused on high-growth sectors, Bloomberg, quoting people familiar with the matter, reported. One option under consideration is the sale of the remaining portion of One Causeway Bay in Causeway Bay, sources divulged. The group had previously sold 13 floors of One Causeway Bay to BABA-W (09988.HK) and Ant Group for approximately HKD7.2 billion. Another potential divestment target is Zung Fu, Jardine’s Mercedes-Benz dealership business in Hong Kong and Macau. Jardine Matheson CEO Lincoln Pan is assembling an investment team to oversee the restructuring of the group's portfolio. The company also intends to expand into developed markets in the Asia-Pacific region, including Australia and Japan, while reducing its exposure to geopolitical risks in SE Asia. AASTOCKS Financial News |
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