Lafarge SA has reportedly expressed its seriousness in buying Cemex Asia Holdings’s 25.53 per cent in PT Semen Gresik at market price. The serious commitment of Lafarge, confided one executive knowing about the transaction, was shown in a letter signed by President Director of PT Semen Andalas Thomas Patrick Ehrhart, a cement business unit of Lafarge in Indonesia. The official letter was received by State Minister for State Enterprises last week. Lafarge, a France cement giant that last year booked IDR16 billion euros in turnover, would also submit to all existing regulations.
"So far, despite the fact that there are parties interested in buying stakes in Semen Gresik, only Lafarge that has sent an official letter to State Minister for State Enterprises Sugiharto," said the source to Bisnis last weekend. Cemex, he added, wanted to exit the cement state enterprise because it no longer could increase its stake.