Swiss cement giant Holcim to sell its Nigerian subsidiary Lafarge Africa to China's Huaxin Cement for $1 billion.

Swiss cement company Holcim plans to sell its 84% stake in Nigerian subsidiary Lafarge Africa to China's Huaxin Cement for $1 billion. This deal, subject to regulatory approval and expected to close in 2025, is part of Holcim's strategy to focus on high-growth regions like North America. The transaction could impact Nigeria's construction sector by expanding Huaxin Cement's presence in Africa.

December 01, 2024
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