PREMIUMForeign companies go ahead with acquisition plans despite COVID-19 pandemic

first_imgLOG INDon’t have an account? Register here Forgot Password ? Log in with your social account Facebook Topics : A number of multinational companies are pressing on with their mergers and acquisitions in Indonesia despite the uncertain global economic conditions and threat of a recession caused by the COVID-19 pandemic.Japanese cement producer Taiheiyo Cement Corporation announced on April 22 that it had signed a partnership agreement with state-owned PT Semen Indonesia and planned to invest US$220 million to buy a 15 percent stake in its subsidiary PT Solusi Bangun Indonesia (SBI).Taiheiyo said in a statement that the alliance with Semen Indonesia and SBI was aimed at boosting its business in the long term as cement demand in Japan might decline due to the aging population.“Although we believe cement demand will remain at a certain level in the medium term due to infrastructure renewal and disaster prevention and mitigation, we expect demand will decline in the long run caused by… Google Linkedin Indonesia Taiheiyo-Cement-Corporation Bangkok-Bank Bank-Permata Astra-International standard-charteredlast_img read more