Lafarge to merge some African operations

Lafarge will be merging some of its operations in Africa under a new entity called Lafarge Africa. According to Lafarge, the new entity will be holding assets in both Nigeria and South Africa, and the merger will involve the issuance of 1.4 million Lafarge Africa shares to the parent company, Lafarge, as well as some €146 million in cash payment. Lafarge Africa will be listed on the Nigerian stock exchange.
June 6, 2014 Read time: 1 min

725 Lafarge will be merging some of its operations in Africa under a new entity called Lafarge Africa.

According to Lafarge, the new entity will be holding assets in both Nigeria and South Africa, and the merger will involve the issuance of 1.4 million Lafarge Africa shares to the parent company, Lafarge, as well as some €146 million in cash payment.

Lafarge Africa will be listed on the Nigerian stock exchange.

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The company, which last month merged with South Africa’s Lafarge subsidiary, also enjoyed a 12% increase in revenue for the first six months of 2014. Revenue rose to N55.35 billion ($341 million) from N49.48 billion ($305 million) in the preceding year.

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