LafargeHolcim Sells Philippines Subsidiary Stake to San Miguel for $2.15 Billion
09 Maio 2019 - 2:44PM
Dow Jones News
By Donato Paolo Mancini
LafargeHolcim Ltd. (LHN.EB) is to sell its entire 85.7% stake in
Holcim Philippines Inc. to San Miguel Corporation (SMC.PH) for an
enterprise value of $2.15 billion, it said Thursday.
"With the divestment of its activities in Indonesia, Malaysia,
Singapore and the Philippines, LafargeHolcim exits South East Asia
at a total enterprise value of $4.9 billion," it said.
The move will allow the company to further improve its debt
ratio by approximately 0.3 times, said the company.
Closing of the transaction is expected in the fourth quarter of
2019 and is subject to customary approvals.
Write to Donato Paolo Mancini at
donatopaolo.mancini@dowjones.com; @donatopmancini
(END) Dow Jones Newswires
May 09, 2019 13:29 ET (17:29 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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