Holcim AG Announces Sales Of Its $1 Billion Nigeria Company To Huaxin Cement Co. The $1 billion sale of Holcim AG’s Nigerian business to Huaxin Cement Co. of China was announced by the Swiss construction materials giant on Sunday. Subject to regulatory clearances, this deal, which incorporates Holcim’s 83.81% ownership in Lafarge Africa PLC, is anticipated to be completed in 2025. As part of its plan to simplify its holdings and concentrate on its core markets, the business is selling off its interest in Lafarge Africa. According to the company: “Holcim has signed an agreement with Huaxin Cement Ltd to sell its entire 83.81% shareholding in Lafarge Africa PLC, at an equity value of USD 1 billion on a 100% basis. The transaction is expected to close in 2025, subject to customary and regulatory approvals.” The Nigerian disposal is in line with Holcim’s intentions to split out and list its North American operations in the US the following year. Due to a lack of available housing and regulatory pressure for environmentally friendly building materials, the company hopes to take advantage of the robust demand in the North American market. Part of the company’s larger plan to reduce non-core assets and reorganize its portfolio is the transaction. The transaction is consistent with Holcim’s emphasis on streamlining operations and increasing in areas where sales of its goods, such as roofing and energy-efficient building materials, are rising quickly. Continuing, Holcim has previously sold off properties across the continent. The Chinese cement group Huaxin purchased Holcim’s 75% ownership in the company, which included its business in Zambia, in 2021 for an enterprise value of USD 150 million for 100% of the business. After Zambian and Chinese authorities gave their approval, the agreement was finalized. The divestment, according to Holcim CEO, Jan Jenisch, is a part of the company’s transformation into a leader in sustainable building solutions, allowing investments in growth possibilities. He also complimented Huaxin as a reliable partner who is well-suited to growing the Zambian business. He went on to say: “This divestment is another step in our transformation to become the global leader in innovative and sustainable building solutions giving us the flexibility to continue investing in attractive growth opportunities. Huaxin has been a trusted partner for many years and we see the company as an ideal owner to further develop the business in Zambia.” BrandSpur business and economy news reports that following the divestment of the Indian Ocean cluster, which was closed at the end of October 2021, Holcim is selling its operations in Zambia. The corporation has completed more than USD 3.1 billion in divestitures since 2019.

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The $1 billion sale of Holcim AG’s Nigerian business to Huaxin Cement Co. of China was announced by the Swiss construction materials giant on Sunday.

Subject to regulatory clearances, this deal, which incorporates Holcim’s 83.81% ownership in Lafarge Africa PLC, is anticipated to be completed in 2025. As part of its plan to simplify its holdings and concentrate on its core markets, the business is selling off its interest in Lafarge Africa.

According to the company: “Holcim has signed an agreement with Huaxin Cement Ltd to sell its entire 83.81% shareholding in Lafarge Africa PLC, at an equity value of USD 1 billion on a 100% basis. The transaction is expected to close in 2025, subject to customary and regulatory approvals.”

The Nigerian disposal is in line with Holcim’s intentions to split out and list its North American operations in the US the following year. Due to a lack of available housing and regulatory pressure for environmentally friendly building materials, the company hopes to take advantage of the robust demand in the North American market.

Part of the company’s larger plan to reduce non-core assets and reorganize its portfolio is the transaction. The transaction is consistent with Holcim’s emphasis on streamlining operations and increasing in areas where sales of its goods, such as roofing and energy-efficient building materials, are rising quickly.

Continuing, Holcim has previously sold off properties across the continent. The Chinese cement group Huaxin purchased Holcim’s 75% ownership in the company, which included its business in Zambia, in 2021 for an enterprise value of USD 150 million for 100% of the business. After Zambian and Chinese authorities gave their approval, the agreement was finalized.

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The divestment, according to Holcim CEO, Jan Jenisch, is a part of the company’s transformation into a leader in sustainable building solutions, allowing investments in growth possibilities. He also complimented Huaxin as a reliable partner who is well-suited to growing the Zambian business.

He went on to say: “This divestment is another step in our transformation to become the global leader in innovative and sustainable building solutions giving us the flexibility to continue investing in attractive growth opportunities. Huaxin has been a trusted partner for many years and we see the company as an ideal owner to further develop the business in Zambia.”

BrandSpur business and economy news reports that following the divestment of the Indian Ocean cluster, which was closed at the end of October 2021, Holcim is selling its operations in Zambia. The corporation has completed more than USD 3.1 billion in divestitures since 2019.