Chinese firm agrees to acquire Lafarge Africa Plc

Swiss cement maker Holcim has announced that it will exit its Nigerian business through the sale of its 83.41% stake in Lafarge Africa Plc to Chinese Huaxin Cement Co., Ltd. (Huaxin) at an equity value of US$1 billion on a 100% basis. The transaction is expected to close in 2025, subject to customary and regulatory approvals.

This acquisition is part of Huaxin's move to expand its operations in Africa. In December 2023, the Chinese coy completed the acquisition of Brazil-based InterCement Brasil South African business for US$265m. 

With four plants spread across Nigeria, Lafarge Africa PIc. currently has an installed cement production capacity of 10.5 million tons per annum.

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