In a significant development, Holcim Group has announced the sale of its shareholding in Lafarge Africa Plc to Huaxin Cement. The transaction, which is subject to regulatory approvals, is expected to be completed in 2025.7
According to the agreement, Huaxin Cement will acquire full ownership of Caricement B.V, the largest shareholder of Lafarge Africa Plc, and Davis Peak Holdings Limited, which holds shares currently owned by Associated International Cement Limited (AICL).
Upon completion, Huaxin Cement will hold a combined 83.81% shareholding in Lafarge Africa Plc.
Lafarge Africa Plc will remain listed on the Nigerian Exchange Group, and Huaxin Cement intends to launch a mandatory takeover offer in compliance with applicable laws and regulations.
This development marks a significant shift in the ownership structure of Lafarge Africa Plc, a leading building solutions company in Sub-Saharan Africa.
Lafarge Africa Plc, a leading Sub-Saharan Africa building solutions company is a member of Holcim Limited, a world leader in building solutions accelerating our world’s green transformation.
Listed on the Nigerian Exchange Group, Lafarge Africa is actively participating in the urbanization and economic growth of Nigeria, the largest economy in Africa.
Lafarge Africa has the widest footprint in Nigeria with cement operations in the South West (Ewekoro and Sagamu in Ogun State), North East (Ashaka, in Gombe State), South East (Mfamosing, Cross Rivers State) with Ready-Mix operations in Lagos, Abuja and Port Harcourt. Lafarge Africa has a current installed cement production capacity of 10.5Mtpa.
Lafarge Africa leverages on its innovative expertise to provide value-added products and services solutions in the building and construction industry in Nigeria.
Holcim Holcim is a global leader in innovative and sustainable building solutions with net sales of CHF 27 billion in 2023.
Driven by its purpose to build progress for people and the planet, its 63,448 employees are on a mission to decarbonize building, while improving living standards for all.
The company empowers its customers across all regions to build better with less, with its broad range of low-carbon and circular solutions, from ECOPact to ECOPlanet to our circular technology platform ECOcycle.
With its innovative systems, from Elevate roofing to PRB insulation, Holcim makes buildings more sustainable in use, driving energy efficiency and green retrofitting. With sustainability at the core .of its strategy, Holcim is becoming a net-zero company with 1.5C targetsĺ.
