Holcim Indonesia to conclude acquisition deal by month-end

Holcim Indonesia to conclude acquisition deal by month-end
Published: 11 May 2009

Publicly listed Holcim Indonesia, the local unit of Holcim Ltd, will seal a US$50m deal to acquire Malaysian unit Holcim Sdn Bhd (HSB) in May, an executive says.

The acquisition, aimed at strengthening the position of HI in the regional market, is expected to be concluded within three weeks, legal and corporate affairs director Jannus O Hutapea said Friday.
The plan will first be brought to a shareholders’ meeting.

"We need approval from the shareholders in the upcoming meeting," Jannus said, adding the company would finalise the deal as soon as the approval was secured.

Holcim Indonesia chief financial officer Olaf Nahe said 80 per cent of the cost would be financed by bank loans and 20 per cent by internal cash flow.

Source: The Jakarta Post