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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.
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El gigante del cemento suizo Holcim venderá su filial nigeriana Lafarge Africa a Huaxin Cement de China por $1 mil millones.