PT Semen Indonesia (Persero) Tbk (IDX:SMGR) signed an agreement to acquire 80.6% stake in PT Holcim Indonesia Tbk (IDX:SMCB) from LafargeHolcim Ltd (SWX:LHN) for IDR 13 trillion on November 12, 2018. Under the terms of the transaction, PT Semen Indonesia (Persero) Tbk agreed to acquire 6.18 billion shares of PT Holcim Indonesia Tbk for IDR 2097 per share. The assets to be sold to Semen Indonesia include the entirety of LafargeHolcim's operations in Indonesia, which consists of 4 cement plants, 33 ready-mix plants and 2 aggregate quarries.

Closing of the transaction is subject to customary regulatory approvals. The proceeds from this transaction will significantly improve debt ratios of LafargeHolcim with the target of 2 times of net debt to recurring EBITDA to be achieved by the end of 2019 and to pay debts of LafargeHolcim Ltd. Citi acted as financial advisor to LafargeHolcim Ltd (SWX:LHN). Gerrit Jan Kleute and Iqbal Darmawan of HHP Law Firm, Andrew Martin of Baker & McKenzie.Wong & Leow, Timothy Gee of Baker & Mckenzie LLP, London acted as legal advisors to LafargeHolcim.

Latham and Watkins and Tjajo & Partners acted as legal advisors to PT Semen Indonesia. BNP Paribas Capital Corporation Inc acted as a financial advisor to PT Semen Indonesia. HSBC Securities Indonesia.

PT acted as broker to LafargeHolcim Ltd and PT. BNI Securities acted as broker to PT Semen Indonesia (Persero) Tbk.