Mexico’s Cemex to sell Indo stake

Mexico’s Cemex to sell Indo stake
Published: 25 April 2006

Cemex SA has reached a deal to sell its 25.53 per cent stake in Indonesia’s largest cement maker, Semen Gresik, to the little-known Indonesian Rajawali Group, a report said Tuesday.  "The transaction has been agreed after the government confirmed that it does not intend to buy back the stake. There has been an agreement between Cemex and Rajawali," Bisnis Indonesia quoted an unidentified source as saying.  The deal awaits only the agreement of the government, Bisnis said.  It did not provide any details about who is behind or owns Rajawali Group.