Holcim Group has signed an agreement to sell its 83.81% stake in Lafarge Africa Plc to Huaxin Cement Ltd, marking a significant transition for the Nigerian cement and building solutions company.
The deal represents a strategic move for both organisations, with Lafarge Africa positioning itself for continued growth and expansion in the Nigerian market.
Gbenga Oyebode, Chairman of Lafarge Africa, highlighted the potential, stating that Nigeria offers promising growth opportunities with its increasing urbanisation and infrastructure demands.
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Huaxin Cement, which operates over 60 cement plants across 12 countries, expressed enthusiasm about the acquisition. Mr. Xu, Vice President of Huaxin Cement, emphasised the company’s commitment to building on Lafarge Africa’s legacy and leveraging its experienced management team.
Lolu Alade-Akinyemi, CEO of Lafarge Africa, reflected on the company’s 65-year journey in Nigeria, describing it as a period of resilience and consistent growth. He sees the transition as an opportunity to continue evolving with the support of Huaxin Cement’s global expertise.
The transaction is expected to strengthen Lafarge Africa’s market position and contribute to Nigeria’s infrastructure development. Both companies have emphasised their commitment to sustainability, innovation, and creating value for stakeholders.
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