The board of directors of Lafarge Africa has approved the acquisition of an additional 50% equity interest in the Untied Cement Company of Nigeria (UNICEM). The purchase was handled on the same terms of its initial acquisition of 35%. Following the acquisition Lafarge Africa will own an indirect interest of 100% in UNICEM.
The 50% share is currently held by Egyptian Cement Holdings, a company jointly owned by LafargeHolcim and Lafarge Africa.
LafargeHolcim owns Egyptian Cement Holdings via Holcibel. Lafarge Africa is buying its latest purchase of shares from Holcibel. Source: Global Cement