Baker McKenzie and its Jakarta member firm HHP Law Firm have advised LafargeHolcim, the world’s largest cement maker, on the sale of its Indonesian business to Semen Indonesia, which was represented by Latham & Watkins and Tjajo & Partners.
Under the terms of the agreement, LafargeHolcim will divest its 80.6 percent in Holcim Indonesia for an enterprise value of $1.75 billion on a 100 percent basis. The assets to be sold includes the entirety of LafargeHolcim’s operations in Indonesia, which consist of four cement plants, 33 ready-mix plants, and two aggregate quarries.
The divestment of LafargeHolcim’s operations in Indonesia is a part of the firm’s Strategy 2022 - ‘Building for Growth.’ Reuters quoted a statement in which the firm’s Chief Executive Jan Jenisch said, “As part of our Strategy 2022 – ‘Building for Growth’ we have committed to divestments of at least 2 billion Swiss francs. Today’s announcement is an important milestone in reaching our target and to increase our financial strength.”
The team representing LafargeHolcim was led by Foreign Legal Consultant Gerrit Jan Kleute from Baker McKenzie's Indonesian member firm HHP and included partner Iqbal Darmawan and associate partners Ken Prasadtyo and Mochamad Fachri from HHP, and London partner Timothy Gee from Baker McKenzie.
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