JAKARTA - Japanese cement manufacturer Taiheiyo Cement Corporation (TCC) seeks to become a shareholder in PT Solusi Bangun Indonesia Tbk (SMCB) through a rights issue, in which TCC will invest US$220 million.
In a stock exchange filing on Wednesday (22/4), SMCB Corporate Secretary Andika Lukmana said an agreement regarding TCC's plan to acquire a stake in SMCB was signed on Tuesday (21/4) by TCC, SMCB, and PT Semen Indonesia (Persero) Tbk (SMGR).
In addition, the two companies will launch partnerships in terms of export, research and development, and technology. (LK/MS)