State cement producer Semen Indonesia (SMGR) has agreed to sell 15% shares of its unit, Solusi Bangun Indonesia (SMCB), to Taiheiyo Cement Corp. The Japanese firm prepared an investment of around US$220 million, equivalent Rp3.41 trillion, for the transaction. The parties signed the “deal” on Tuesday (April 21). As planned, Taiheiyo will acquire SMCB shares by absorbing new shares through pre-emptive rights, representing 15% of enlarged capital, priced at Rp2,200 a share.
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