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Swiss based Holcim has completed the divestment of its Nigeria business, selling its entire 83.81% shareholding in Lafarge Africa PLC to Huaxin Cement at an equity value of USD 1 billion on a 100% basis before dividend adjustments.
Martin Kriegner, Regional Head Asia, Middle East & Africa said:
“We are pleased to have found in Huaxin Cement a trusted buyer that is committed to further developing the business in Nigeria. At the same time, the sale proceeds give Holcim additional capacity for our growth-focused capital allocation. We wish Lafarge Africa PLC and Huaxin Cement continued success.”
Lafarge Africa shares are valued at N2.09 trillion or $1.35 billion and is up 86% year-to-date.
Lafarge Africa delivered stellar results for the Half Year (H1) 2025 period, with profit after tax surging 352% to N132.67 billion, while net sales hit N517 billion.
The increase in sales was fueled by improved volumes, on the back of enhanced plant stability, while Lafarge Africa profit was strengthened by the relative stability of the Naira as the prior year was heavily impacted by FX losses.
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