LafargeHolcim has closed its divestment of Holcim Indonesia with the disposal of its entire shareholding of 80.6% of Holcim Indonesia to Semen Indonesia. This was for an enterprise value of US$1.75 billion on a 100% basis.
The proceeds from this transaction will improve the company’s net debt to recurring EBITDA ratio by 0.2, with the target of 2 ties or less to be achieved by the end of 2019.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/01022019/lafargeholcim-closes-divestment-of-holcim-indonesia/
The company has suggested that the recovery in construction must not be taken for granted as ONS data shows that construction output has flatlined since September, whilst new contract awards have been weak for most of the past year.