LafargeHolcim completes sale of $1.75bn Indonesian unit

1st February 2019

By: Reuters

  

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LafargeHolcim has completed the sale of its Indonesia business in a deal which valued the unit at $1.75-billion, the cement maker said on Friday.

Proceeds from the sale to Semen Indonesia will be used to pay down LafargeHolcim's debts, the company said. LafargeHolcim held 80.6% in the business, giving it $1.41-billion from the sale.

LafargeHolcim said last year it wanted to raise around two-billion Swiss francs ($2.01-billion) from selling assets and could leave two or three countries to concentrate on the United States, Latin America, India and Africa.

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Edited by Reuters

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