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Lafarge to buy out shares in United Cement Company of Nigeria

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World Cement,

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.

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