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Chinese firm Huaxin Cement acquires stake in Nigerian Lafarge Africa for $1 billion, set to close in 2025.
Chinese firm Huaxin Cement will acquire a significant stake in Nigerian cement company Lafarge Africa for about $1 billion, with the deal expected to close in 2025.
This transaction will allow Huaxin to expand into Nigeria's cement market while Swiss firm Holcim divests to focus on core markets.
Lafarge Africa, one of Nigeria's largest cement producers with a capacity of 10.5 million tonnes annually, saw a 9% increase in net sales last year but a 4.7% drop in profits.
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La firma china Huaxin Cement adquiere participación en Nigerian Lafarge Africa por 1.000 millones de dólares, que se cerrará en 2025.