A cross-border team from Baker McKenzie advised LafargeHolcim on the disposal of its 80.6% interest in Holcim Indonesia to Semen Indonesia, for an enterprise value of USD$1.75 billion on a 100% basis.

LafargeHolcim’s divestment of its operations in Indonesia forms part of its strategy 2022, in which it has committed to divestments of at least CHF2 billion (US$2 billion). The disposal includes the entirety of LafargeHolcim’s operations in Indonesia, which consists of four cement plants, 33 ready-mix plants, and two aggregate quarries. The sale was carried out by way of a competitive auction process.

LafargeHolcim is a global leader in building materials and solutions. Semen Indonesia is one of the largest cement players in Southeast Asia, operating production plants across Indonesia’s three major islands: Java, Sumatra and Sulawesi.

The transaction was led by foreign legal consultant Gerrit Jan Kleute from Baker McKenzie’s Indonesian member firm HHP Law Firm, and assisted by foreign legal consultants Mark Innis and Norman Bissett, partner Iqbal Darmawan, and associate partners Ken Prasadtyo and Mochamad Fachri from HHP Law Firm; principal Andrew Martin from Singapore member firm Baker McKenzie Wong & Leow; and partner Timothy Gee from the firm’s London office. They were supported by senior associates Xiao Hui Ting in Singapore and John P Sitepu in Jakarta, associates Putri Anindita Sahari, Ario P Pamungkas and Christofer Chandra in Jakarta, and associates Carrie Lui and Matthew Love in Hong Kong.