Holcim has signed an agreement with Huaxin Cement Ltd to sell its entire 83.81 per cent shareholding in Lafarge Africa PLC, at an equity value of US$1bn on a 100 per cent basis. Nigerian-listed Lafarge Africa has an approximate market capitalisation of around US$550m at previous close, accordign to Citi analysts Ephrem Ravi and Zoe Yu. They also noted that Holcim holds a 41.5 per cent in Huaxin Cement and therefore, will effectively own a beneficial interest in a Lafarge Africa.
The transaction is expected to close in 2025, subject to customary and regulatory approvals.
Located in Nigeria, Lafarge Africa operates the Ashaka, Ewerko 1&2, Sagamu and Mfamosing cement plants.
