EAPCC denies reports of potential acquisition

Kenya’s East African Portland Cement Co (EAPCC) has denied recent reports that it was in early-stage talks with LafargeHolcim about a potential acquisition.

"It has never featured in any board discussions," said the company’s head of financial management, Stephen Nthei, in an interview with Bloomberg. "I don’t think it’s a considerable move given the current shareholding structure."

Lafarge currently holds a 41.7 per cent stake in EAPCC. However, the majority shareholders are the Kenyan government and the National Social Security Fund with a combined 52 per cent stake.