HCMLY Holcim Ltd (PK)

   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)

Holcim (PK) (USOTC:HCMLY)
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