Zurich – LafargeHolcim has completed the sale of its Indonesia business in a deal which valued the unit at 1.75 billion dollars, the cement maker said on Friday.
Proceeds from the sale to Semen Indonesia will be used to pay down LafargeHolcim’s debts, the company said.
LafargeHolcim held 80.6 per cent in the business, giving it 1.41 billion dollars from the sale.
LafargeHolcim said last year it wanted to raise around 2 billion Swiss francs (2.01 billion dollars) from selling assets and could leave two or three countries to concentrate on the United States, Latin America, India and Africa. (Reuters/NAN)