Lafarge to buy out shares in United Cement Company of Nigeria

According to reports, a Lafarge company in Nigeria, Nigerian Cement Holdings B.V., has entered into an agreement to purchase a 30% stake in United Cement Company of Nigeria (Unicem). The acquisition would take place in two stages, with the first 15% being acquired in 1Q15 and the second by February 2016.

Nigerian Cement Holdings, which is 50% owned by Lafarge Africa Plc, currently holds a 70% stake in Unicem, so this acquisition would give Lafarge complete control of the company. Unicem has a 2.5 million t cement plant and has recently begun work on a second 2.5 million t line. The shares are being acquired from Flour Mills of Nigeria.

Edited from various sources by Katherine Guenioui

Sources:

• BizNews
• Nigerian Tribune

Read the article online at: https://www.worldcement.com/africa-middle-east/11112014/lafarge-to-buy-out-shares-in-united-cement-company-of-nigeria-833/