PT Semen Indonesia (Persero) Tbk (IDX:SMGR) made an offer to acquire 19.36% stake in PT Holcim Indonesia Tbk (IDX:SMCB) for IDR 3.1 trillion on November 12, 2018. PT Semen Indonesia (Persero) Tbk will acquire 1.48 billion shares of PT Holcim Indonesia Tbk at the price of IDR 2,097. In a related deal, PT Semen Indonesia (Persero) Tbk signed an agreement to acquire 80.6% stake in PT Holcim Indonesia Tbk on November 12, 2018.

PT Semen Indonesia (Persero) Tbk has pocketed funds to launch the corporate action. PT Semen Indonesia (Persero) Tbk has had standby loans from a number of banks. As per the update on April 13, 2019, PT Semen Indonesia (Persero) Tbk completed the mandatory tender offer payment. The deal is subject to approval of Financial Services Authority.

The transaction is expected to be closed on April 10, 2019. The transaction is expected to be closed on April 22, 2019. PT Datindo Entrycom acted as registrar in the transaction.