Lafarge increases stake in Unicem

Lafarge increases stake in Unicem
09 March 2015

Lafarge Africa Plc has notified the Nigerian Stock Exchange that Nigerian Cement Holdings BV (NCH), a 50 per cent affiliate of Lafarge Africa, has completed the acquisition of a 15 per cent stake in Unicem from FMN Cement Industries Limited, a wholly owned subsidiary of Flour Mills of Nigeria Plc.

NCH had a 70 per cent share interest in Unicem and following the acquisition, has now increased its stake to 85 per cent.

A further 15 per cent tranche is expected to be acquired by NCH on or before February 2016, in effect transferring all shares from FMN Cement Industries Ltd to NCH.

Published under Cement News