TEMPO.CO, Jakarta - State-run cement producing company PT Semen Indonesia is ready to spend USD917 million upon acquiring 80.6 percent ownership of Holcim Indonesia.
According to Semen Indonesia Secretary Agung Wiharto, the deal is stated in the conditional sales & purchase agreement (CSPA) that was ratified by Lafarge-Holcim Ltd on Monday, November 12.
“The fund source will come from foreign and domestic bank syndicated loans. The payment is guaranteed to be safe following the commitment shown by the banks,” said Agung today.
He further said that the signing is expected to be complete by the end of 2018, which will be followed by paying Lafarge-Holcim for the acquirement.
This move will further establish Semen Indonesia as the country’s leading cement company which will further produce positive impacts.
“This strategy will strengthen the company’s sales and production networking and improve various products for our customers and provide a plethora of opportunities for company employees, suppliers, partners, and stakeholders,” said Semen Indonesia President Director.
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