Lafarge Africa Plc has notified the Nigerian Exchange and the investing public that Holcim Group has signed an agreement with Huaxin Cement to sell its shareholding in Lafarge Africa Plc.
In a notice available on the website of the Nigerian Exchange, the Company stated thus:
“We refer to our announcement dated 30th November 2024 notifying the Nigerian Exchange Limited (NGX) and the investing public of the emergency meeting of the Board of Directors of Lafarge.
Please be informed that at the meeting, the Board considered communications received from Lafarge’s largest shareholders, Caricement B.V (Caricement) and Associated International Cement Limited (AICL) informing the Board of the following:
Caricement’s sole shareholder, Holderfin B.V, part of the Holcim Group, has reached agreement with Hainan Huaxin Pan-Africa Investment Co. Limited and Huaxin (Hong Kong) International Holdings Limited, part of Huaxin Cement, pursuant to which they will acquire respectively full ownership of Caricement and a second entity, Davis Peak Holdings Limited, which will hold the shares held currently by AICL.
Upon completion, the Huaxin Cement entities will hold a combined 83.81% shareholding in Lafarge Africa Plc. This transaction is subject to regulatory approvals and is expected to close in 2025.
Following completion of this transaction, Lafarge Africa Plc will remain listed on NGX and, subject to regulatory approvals, Huaxin Cement intends to launch a mandatory takeover offer in compliance with applicable laws and regulations”.
Leave a Reply