Under the terms of the agreement, JMGH will sell its 100% stake in Jardine Motors Group France, which owns Cica, to European motor trading group PGA for an undisclosed sum.
Cica holds a range of franchises, including BMW, Ford, Mercedes and Peugeot, and last year sold around 37,000 cars through 50 dealerships.
Anthony Nightingale, Jardine Motors Group executive chairman, said: “The sale of Cica is in line with the group's increased focus on its core markets, particularly Asia and the UK. We have received full value for the business, which remains profitable.”
The company will retain its 39% interest in Exlinea, a technology-driven motor dealership operation based in France that markets new and used cars through the Carsat auction system and the internet.