Holcim has closed the sale of its business in Zambia, representing a 75 per cent stake in the company, to the Chinese cement group Huaxin for an enterprise value of US$150m for 100 per cent ownership of the company. The deal was closed following approvals from Chinese and Zambian authorities.
Jan Jenisch, Holcim CEO: said “This divestment is another step in our transformation to become the global leader in innovative and sustainable building solutions giving us the flexibility to continue investing in attractive growth opportunities. Huaxin has been a trusted partner for many years and we see the company as an ideal owner to further develop the business in Zambia.”
The sale of Holcim’s business in Zambia follows the divestment of the Indian Ocean cluster, which was closed at the end of October 2021. Since 2019 the company has achieved over US$3.1bn in divestments.
