Lafarge gain approval for African operations merger

Lafarge Wapco of Nigeria has received shareholders’ approval to merge with Lafarge's operations in South Africa in a move worth €989.54 million. The company will issue 1.4 billion shares and will reportedly spend €146.84 million in cash to takeover Lafarge's South African unit. The new entity will be known as Lafarge Africa and it will be 73% owned by Lafarge. Shareholders of Lafarge Wapco also approved the company to raise €450.65 million in local or overseas capital markets.
July 10, 2014 Read time: 1 min

725 Lafarge Wapco of Nigeria has received shareholders’ approval to merge with Lafarge's operations in South Africa in a move worth €989.54 million. The company will issue 1.4 billion shares and will reportedly spend €146.84 million in cash to takeover Lafarge's South African unit. The new entity will be known as Lafarge Africa and it will be 73% owned by Lafarge. Shareholders of Lafarge Wapco also approved the company to raise €450.65 million in local or overseas capital markets.

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Green light for Lafarge Holcim Singapore merger

Lafarge and Holcim have reportedly been shown the green light from the Competition Commission of Singapore to merge their local operations.

AsiaOne Business website writes that the merger, with Holcim acquiring Lafarge's entire issued share capital, will result in Holcim being renamed LafargeHolcim.

Holcim (Singapore) and Lafarge Cement Singapore overlap in the manufacture and supply of ready-mixed concrete. They also supply grey cement, used to produce mortar and concrete, here.

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