Huaxin Cement Company, the prospective buyer of Holcim’s stake in Lafarge Africa, has valued 100 percent of Lafarge Africa’s shareholding

Swiss building materials company Holcim AG agreed to sell its Nigerian business to China’s Huaxin Cement Co. in a deal that values the asset at $1 billion.

Holcim Group has signed an agreement to sell its 83.81% stake in Lafarge Africa Plc to Huaxin Cement Ltd, marking a significant transition for the Nigerian cement and building solutions company.

(Reuters) -Swiss cement maker Holcim will exit its Nigerian business through the sale of its almost 84% stake in Lafarge Africa to China's Huaxin Cement in a $1 billion deal, it said on Sunday. The deal aligns with Holcim's strategy to streamline its portfolio and focus on high-growth regions,

Cement maker Holcim has announced the $1 billion sale of its 83.8% stake in Lafarge Africa to China’s Huaxin Cement.

According to an investigation conducted recently, the cost of building materials has increased significantly by over 100 per cent in the last 12 months.

Swiss building materials giant, Holcim AG has announced the sale of its Nigerian business to China’s Huaxin Cement Co. in

Swiss cement giant Holcim has announced its exit from the Nigerian market by selling its nearly 84% stake in Lafarge Africa to China’s Huaxin Cement. ・Holcim is selling its nearly 84% stake in Lafarge Africa to Huaxin Cement,

Holcim AG has agreed to sell its stakes in Lafarge Africa to a Chinese cement firm in a deal valued at $1 billion as Holcim seeks to divest from Nigeria.

Holcim (OTCPK:HCMLF)(OTCPK:HCMLY) said Sunday it agreed to sell its stake in Lafarge Africa to China’s Huaxin Cement in a $1B deal.  Holcim owns 83.8% of the Nigerian-based business, the Swiss cement maker said in a statement.