Addoha reportedly to sell 30% African stake to HeidelbergCement

It has been reported that the Moroccan Addoha Group will sell 30 per cent of its African assets to HeidelbergCement, according to local news sources. The value of the transaction is estimated at around MAD2bn (US$202m). When contacted, HeidelbergCement declined to comment.

Following the construction of two cement plants in its home market of Morocco (Ben Ahmed and Beni Mellal), the Addoha Group has rapidly expanded its activities in Africa, launching subsidiary Ciments de L'Afrique (CIMAF) in 2011.

CIMAF has invested in cement capacity in Guinea, Côte d’Ivoire, Burkina Faso, Cameroon and Republic of Congo, and reportedly plans expansion into other countries including Guinea-Bissau and Gabon.