Deals

Semen Indonesia Is Poised to Buy LafargeHolcim Unit

LafargeHolcim sale is part of $2 billion divestment plan
Semen gets 4 cement and 33 ready-mix plants, plus 2 quarries

A $500 Billion Red Sea City Plan Spurs Saudi Cement Stock Rally — Photographer: Susana Gonzalez/Bloomberg

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By Fathiya Dahrul, Manuel Baigorri, and Joyce Koh

November 12, 2018 at 1:07 PM UTC

Updated on

November 13, 2018 at 8:27 AM UTC

This article is for subscribers only.

PT Semen Indonesia, the country’s top cement maker, is acquiring LafargeHolcim Ltd.’s local business in a deal valuing the unit at about $1.75 billion including debt.

LafargeHolcim agreed to sell its entire holding in PT Holcim Indonesia as part of a continuing review of its portfolio, according to a statement Monday. Semen Indonesia will conduct a tender offer for remaining shares of Jakarta-listed Holcim Indonesia after completing its purchase of LafargeHolcim’s 80.6 percent stake, it said in a separate exchange filing.