Holcim Sells Nigerian Business to Huaxin Cement for $1 Billion

📆 01/12/2024 03:25 p. m.
📰 thecableng

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Holcim,Lafarge Africa,Huaxin Cement

Holcim, a Swiss building materials company, has agreed to sell its 83.81% stake in Lafarge Africa to Huaxin Cement Ltd. for $1 billion, reflecting a strategic decision to refocus its global priorities.

Holcim, a Swiss building materials company, has agreed to sell its Nigerian business to Huaxin Cement Ltd., a Chinese firm. The deal, worth $1 billion, involves Holcim’s 83.81% stake in Lafarge Africa, according to a recent statement.

Lafarge Africa Plc, a part of the Holcim Group and a manufacturer of roofing and other construction materials, such as cement, aggregates, and ready-mix concrete, will now see ownership change due to Holcim’s decision to refocus its global corporate priorities and adapt to economic trends in Nigeria

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