Building materials giant Holcim intends to divest its majority stake in Lafarge Africa to China’s Huaxin Cement for an equity valuation of US$1 billion. The Switzerland-based construction materials company possesses an 83% stake in the subsidiary.
The deal is expected to be finalised in 2025, pending regulatory approvals.
Lafarge Africa runs four integrated cement facilities in Nigeria: Sagamu and Ewekoro in Ogun State, Mfamosing in Cross River State, and the Ashaka Cement facility in Gombe State.
These plants have a total production capacity of 10.5 million tons per year. Additionally, the company has a ready-mixed concrete production capability of 0.4 million cubic meters per year.
Its local recycling arm, Geocycle, achieved a thermal substitution rate of 37% for alternative fuels in 2022.
