Sime Darby Motors is in the process of selling its Peugeot and Citroen distribution businesses in Australia and New Zealand, according to reports in Malaysia.

The company is the automotive distribution and retail division of diversified Malaysian conglomerate Sime Darby which also operates in the property, plantations, logistics and industrial equipment sectors.

The motor division has vehicle assembly and distribution operations across the Asia-Pacific region, including Malaysia, Vietnam, Thailand, Hong Kong, China, Singapore, Australia and New Zealand.

The company told reporters it had signed an agreement to sell its Peugeot, Citroen and DS import, distribution, retail and aftersales operations in Australia and New Zealand to Inchcape Australia and Rick Armstrong Motor Group respectively.

The two deals are scheduled to be completed at the beginning of June 2017.

Rick Armstrong Motor Group has established a new separate company, called Auto Distributors New Zealand Limited, to operate Peugeot and Citroen distribution and retailing independently from its current operations.

Sime Darby said it would focus on its other vehicle retail operations in the two countries, including Porsche and BMW in Australia and Audi, BMW, Porsche, Ferrari, VW, Nissan and UD Trucks in New Zealand.

Local report: Sime Darby drops PSA lines in NZ