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.