Lafarge Wapco, the Nigerian subsidiary of French cement producer Lafarge is planning to raise NGN 100 billion (€446.74 million) by issuing debts or shares in local and overseas markets.
The company will ask for shareholders to approve the fund raising in July 2014. Lafarge earlier announced plans to merge Lafarge Wapco with its South Africa unit to create Lafarge Africa, an entity worth €988 million, and approval of shareholders is needed.
If the merger is successful, Lafarge Wapco's market capitalisa
CVC is preparing a joint bid with a Singaporean state fund for assets including Britain's biggest cement-maker, Sky News reports.
The private equity company CVC Capital Partners is reported to be joining forces with some of the world's biggest sovereign wealth funds to bid for £4 billion (€5 billion) of cement assets that would make it a major player in the building materials sector.
Sky News reports that CVC is in discussions with Singapore's Government Investment Corporation (GIC) about a combined o