Freshfields Bruckhaus Deringer has advised Jardine Cycle & Carriage Limited on its acquisition of a 24.9% interest in Siam City Cement Public Company Limited (Siam City Cement) from Thai Roc-Cem Ltd, a wholly-owned subsidiary of Holcim Ltd.

The investment was made for a total consideration equivalent to US$615m.

Siam City Cement is publicly listed in Thailand, and is the second largest cement manufacturer in that market.

The Freshfields team advising on the transaction was led by Asia managing partner Robert Ashworth.