Holcim, a global leader in innovative and sustainable building solutions, has agreed to sell its shareholding in Lafarge Africa
Holcim currently holds an 83.81% shareholding in Lafarge Africa PLC, a Nigerian-based producer of building materials and construction solutions. The entirety of this will be sold to Hauxin Cement at an equity value of US$1bn on a 100% basis.
Subject to customary and regulatory approvals, the transaction is expected to close in 2025 and will mark Holcim’s exit from its Nigerian business. This is reportedly in line with its new strategy of streamlining its portfolio and focusing on high-growth regions.
For China-based Hauxin Cement, it marks yet another acquisition on the continent following recent high profile acquisitions. This includes, at the start of this year, the purchase of the South African operations of InterCement in a deal valued at around US$230mn.
It remains to be seen what impact this will have for Lafarge Africa, a company that has been making headlines in recent months by setting new standards in sustainable cement production.
Hauxin Cement to acquire majority stake in Lafarge Africa
Lafarge Africa is a leading producer of building materials and construction solutions. (Image source: Adobe Stock)
