Holcim Limited with 83.81% stake in Lafarge Africa handovers to Huaxin Cement

Holcim Limited, an international investor holding its shares in the names of its subsidiaries: AIC UK and CariCement BV is seeking for regulatory approval to handover 83.81 per cent of its stake in Lafarge Africa Plc to Huaxin Cement

Holcim Limited as of December 2023 had a shares in the names of its subsidiaries: Associated International Cement Limited UK(27.77per cent) and CariCement BV (56.04per cent) in Lafarge Africa.

The remaining 16.19per cent of the issued shares were held by other individuals and institutions.

Company Secretary, Lafarge Africa, Adewunmi Alode in a signed posted on the Nigerian Exchange Limited (NGX) yesterday stated that the Board at a meeting considered communications received from Lafarge’s largest shareholders, Caricement B.V and Associated International Cement Limited.

According to him,   Caricement’s sole shareholder, Holderfin B.V, part of the Holcim Group, has reached agreement with Hainan Huaxin Pan-Africa Investment Co. Limited and Huaxin (Hong Kong) International Holdings Limited, part of Huaxin Cement, pursuant to which they will acquire respectively full ownership of Caricement and a second entity, Davis Peak Holdings Limited, which will hold the shares held currently by AICL.

“Upon completion, the Huaxin Cement entities will hold a combined 83.81per cent shareholding in Lafarge Africa.

“This transaction is subject to regulatory approvals and is expected to close in 2025. Following completion of this transaction, Lafarge Africa Plc will remain listed on NGX and, subject to regulatory approvals, Huaxin Cement intends to launch a mandatory takeover offer incompliance with applicable laws and regulation.”