Holcim has finalised the divestment of its Nigerian business, selling its entire 83.81 per cent stake in Lafarge Africa PLC to Huaxin Cement. The deal, valued at US$1bn on a 100 per cent equity basis before dividend adjustments, marks Holcim’s full exit from the Nigerian market.
“We are pleased to have found in Huaxin Cement a trusted buyer that is committed to further developing the business in Nigeria. At the same time, the sale proceeds give Holcim additional capacity for our growth-focused capital allocation. We wish Lafarge Africa PLC and Huaxin Cement continued success,” said Martin Kriegner, Holcim’s Regional Head for Asia, Middle East & Africa.
