TJAJO & Partners has advised PT Semen Indonesia Tbk (Semen Indonesia) in the acquisition of 80.6 percent interest in PT Holcim Indonesia Tbk (Holcim Indonesia) by LafargeHolcim within the company, for an enterprise value of approximately USD 1.8 billion.
Semen Indonesia is one of the largest cement producers and players in Southeast Asia, operating production plants across Indonesia’s three major islands (Java, Sumatera and Sulawesi). Semen Indonesia has a production capacity of 15 million tons of cement from its production sources on Sumatra and Java, which is equivalent to around 14% of the total national production capacity, 110 million tons. With this acquisition there will be an addition to potentially around 12.5 million tons per annum production capacity.
LafargeHolcim agreed to sell its entire holding in Holcim Indonesia as part of a continuing review of its portfolio to improve its financial strength. This transaction helps Semen Indonesia expand its market leadership in the cement industry.
This transaction was led by Rambun Tjajo, Senior Partner of TJAJO & Partners, alongside Yogie Sugiharto and Melissa Butarbutar, both are Partners of the firm, and assisted by Associates Brahmantyo Jatiwidianto, and Kevin Yehezkiel.