Semen Indonesia completed the acquisition of Holcim Indonesia from LafargeHolcim for $1.7bn.

Semen Indonesia, an Indonesian cement company, completed the acquisition of Holcim Indonesia from LafargeHolcim, an innovative & sustainable building materials company, for $1.7bn. “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,” Jan Jenisch, LafargeHolcim CEO.