Lafarge Africa’s 50% Unicem stake

Lafarge Africa will acquire another 50% stake held by Egyptian Cement Holdings (ECH) in United Cement Company of Nigeria (Unicem). ECH is an entity jointly owned by Lafarge Africa and LafargeHolcim Group. Lafarge Africa will buy the shares from Holcibel through which LafargeHolcim's stake in ECH is held. Apart from that, the issue of 413.18 million ordinary shares of Lafarge Africa as full consideration for the acquisition has been approved by the board of directors.
May 16, 2016 Read time: 1 min

725 Lafarge Africa will acquire another 50% stake held by Egyptian Cement Holdings (ECH) in United Cement Company of Nigeria (1850 Unicem).

ECH is an entity jointly owned by Lafarge Africa and 8161 LafargeHolcim Group.

Lafarge Africa will buy the shares from Holcibel through which LafargeHolcim's stake in ECH is held.

Apart from that, the issue of 413.18 million ordinary shares of Lafarge Africa as full consideration for the acquisition has been approved by the board of directors.

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Full acquisition of UNICEM completed by Nigerian Cement Holdings

The 100% acquisition of United Cement Company of Nigeria (UNICEM) has been completed by Nigerian Cement Holdings (Nigerian Cement), a Lafarge Africa affiliate. Nigerian Cement held a 70% stake in UNICEM before agreeing a deal in November 2014 to acquire the remaining 30% stake. Nigerian Cement has bought the remaining shares from Flour Mills. Lafarge Africa has not revealed the purchase price.

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