Holcim sells business in Nigeria to Chinese cement group
Published: Sunday, Dec 1st 2024, 11:30
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The Swiss cement manufacturer Holcim wants to sell its shares in the Nigeria-based Lafarge Africa PLC Group to the Chinese cement manufacturer Huaxin Cement. The sale price is one billion dollars on a 100 percent basis.
According to an agreement announced on Sunday, the Chinese Group will take over Holcim's stake of 83.81 percent, as Holcim further announced on Sunday. The transaction is expected to be completed in 2025. Lafarge Africa PL specializes in the production and distribution of cement.
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