PT Semen Indonesia Tbk cancelled the acquisition of 19.36% stake in PT Holcim Indonesia Tbk.
November 11, 2019
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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.
PT Semen Indonesia (Persero) Tbk (IDX:SMGR) cancelled the acquisition of 19.36% stake in PT Holcim Indonesia Tbk (IDX:SMCB) on November 12, 2019.
PT Semen Indonesia (Persero) Tbk is an Indonesia-based multinational building materials solutions company. The Company provides a range of product and service variants according to the level of development needs from simple renovations, property development projects, public facilities, infrastructure to other large-scale projects. The Company has two segments: cement production and non-cement production. Cement production segment produces and markets cement products in Indonesia, Vietnam, as well as various export destination countries. In addition to production facilities, the Company has also developed various supporting facilities, such as packaging factories, ports, and other distribution support networks spread across all provinces in Indonesia and parts of Vietnam. Non-cement production segment consists of mining limestone and clay, manufacturing packaging bags, developing industrial estates, finished and ready-to-use concrete, information system services, logistics and trading.