LafargeHolcim, the French-Swiss global building materials giant, has closed the sale of Holcim Indonesia with the disposal of its entire shareholding of 80.6 per cent in Holcim Indonesia to Semen Indonesia for US$ 1.75 billion.
The sale of Holcim Indonesia is part of LafargeHolcim’s ongoing portfolio review. The assets sold to Semen Indonesia include the entirety of LafargeHolcim’s operations in Indonesia, which consists of four cement plants, 33 ready-mix plants and two aggregate quarries.
Speaking
February 1, 2019
Read time: 2 mins
Jan Jenisch, CEO of LafargeHolcim
8161 LafargeHolcim, the French-Swiss global building materials giant, has closed the sale of Holcim Indonesia with the disposal of its entire shareholding of 80.6 per cent in Holcim Indonesia to 7818 Semen Indonesia for US$ 1.75 billion.
The sale of Holcim Indonesia is part of LafargeHolcim’s ongoing portfolio review. The assets sold to Semen Indonesia include the entirety of LafargeHolcim’s operations in Indonesia, which consists of four cement plants, 33 ready-mix plants and two aggregate quarries.
Speaking in late 2018 after the announcement of the sale agreement, Jan Jenisch, CEO of LafargeHolcim, said: “As part of our Strategy 2022 – ‘Building for Growth’ we have committed to divestments of at least CHF 2 billion. Today’s announcement is an important milestone in reaching our target and to increase our financial strength. The proceeds from this transaction will significantly improve our debt ratios with the target of 2 times Net Debt to Recurring EBITDA to be achieved by the end of 2019.”
