Lafarge increases stake in Unicem

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.