Nigeria: NCH to acquire 30% of UNICEM

Nigeria Cement Holding (NCH), the Nigerian subsidiary of newly-merged Holcim and Lafarge, is to pay NGN 55 billion (€250.88 million/US$310.38 million) to buy the remaining 30% of United Cement Company of Nigeria (UNICEM). The price may vary depending on the exchange rate between the Nigerian Naira and the US dollar at the time of payment. A first tranche of 15% will be bought in the first quarter of 2015 and the remaining 15% in February 2016 at the latest.
November 26, 2014 Read time: 1 min

Nigeria Cement Holding (NCH), the Nigerian subsidiary of newly-merged 680 Holcim and 725 Lafarge, is to pay NGN 55 billion (€250.88 million/US$310.38 million) to buy the remaining 30% of United Cement Company of Nigeria (1850 UNICEM).

The price may vary depending on the exchange rate between the Nigerian Naira and the US dollar at the time of payment.

A first tranche of 15% will be bought in the first quarter of 2015 and the remaining 15% in February 2016 at the latest.

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