• Contact Us
  • About Us
Tuesday, June 3, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Companies and Markets

Holcim Sells Lafarge Africa Stake To Huaxin Cement in $1bn Deal

metro by metro
December 1, 2024
in Companies and Markets
0
Holcim Sells Lafarge Africa Stake To Huaxin Cement in $1bn Deal
0
SHARES
0
VIEWS

 

 

Read Also

Shares Dither, US Dollar Climbs On Rosy Economic Data

Shares Dither, Oil Slides As Tariffs Fan Growth Worries

Oil Rebounds As Ukraine Ceasefire Deal Remains Elusive

 

Swiss cement maker Holcim (HOLN.S), will exit its Nigerian business through the sale of its almost 84% stake in Lafarge Africa (WAPCO.LG) to China’s Huaxin Cement (600801.SS) in a $1 billion deal, it said on Sunday.

Reuters reports that the deal aligns with Holcim’s strategy to streamline its portfolio and focus on high-growth regions, including the coming spin-off of its North American business, which remains on track for a U.S. listing in the first half of 2025.

The transaction is expected to close in 2025, subject to regulatory approval, Holcim’s statement said, without elaborating on the reason for this particular sale.

In November last year Holcim said it had signed deals to sell its businesses in Uganda and Tanzania, saying they “advance our strategy to consolidate our leadership in core markets as the global leader in innovative and sustainable building solutions”.

The deal is the latest in a series African acquisitions by Huaxin Cement.
In 2021 it said it had agreed to buy two businesses that were part of Lafarge, which merged with Holcim in 2015: a 75% stake in Lafarge Zambia and all of Lafarge Cement Malawi.
It also announced last year that it was buying South Africa’s Natal Portland Cement Company.

ALSO READ:Ghana Risks Govt Shutdown If No Budget Passed Before Election

Holcim has focused on sustainable growth in its core markets, higher-margin products and strategic infrastructure investments.
It is also seeking to improve its environmental credentials and in September took a stake in Sublime Systems, a U.S. tech start-up working on low-carbon cement.

In October Holcim reported a slightly better than expected recurring operating profit of 1.67 billion Swiss francs ($1.90 billion) for the third quarter. ($1 = 0.8809 Swiss francs)

Previous Post

Ghana Risks Govt Shutdown If No Budget Passed Before Election

Next Post

Biden Pardons Son, Hunter, In Final Weeks Of US Presidency

Related Posts

Shares Dither, US Dollar Climbs On Rosy Economic Data
Companies and Markets

Shares Dither, US Dollar Climbs On Rosy Economic Data

May 28, 2025
Shares Dither, Oil Slides As Tariffs Fan Growth Worries
Companies and Markets

Shares Dither, Oil Slides As Tariffs Fan Growth Worries

April 30, 2025
Oil Prices Down On Swelling US Crude Stocks, Easing Middle East Tensions
Companies and Markets

Oil Rebounds As Ukraine Ceasefire Deal Remains Elusive

March 14, 2025
Companies and Markets

NGX Group, CSCS, Others Rally Stakeholders On Gender Equality In Nigeria

March 9, 2025
Next Post
U.S. Economy Grows In Third Qtr Reversing Six-Month Slump

Biden Pardons Son, Hunter, In Final Weeks Of US Presidency

Oil Prices Down On Swelling US Crude Stocks, Easing Middle East Tensions

Oil Inches Up On Supply Concerns, Weaker Dollar

June 3, 2025
Nigerian Military Fighter Jet Mistakenly Kills 20 Vigilantes In Zamfara

Nigerian Military Fighter Jet Mistakenly Kills 20 Vigilantes In Zamfara

June 2, 2025
President Tinubu Addresses Joint Sitting Of NASS Wednesday, May 29, 2024.

FG Declares June 6,9 Public Holidays To Mark Eid-UI-Adha Celebrations

June 2, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version