Holcim to Sell Stake in Lafarge Africa

Swiss cement manufacturer Holcim AG has agreed to sell its 83.81% stake in Lafarge Africa to China's Huaxin Cement for $1 billion, marking a strategic exit from the Nigerian market. The transaction, expected to close in 2025 pending regulatory approval, aligns with Holcim's broader strategy to streamline operations and focus on high-growth areas. This sale follows previous divestments by Holcim, including operations in Zambia and other regions, as it seeks to consolidate its leadership in core markets. Huaxin Cement, which is among the top ten cement producers in China, aims to enhance its profitability through this acquisition. Lafarge Africa has shown a strong financial performance, making it an attractive target for Huaxin. The deal reflects a growing trend of foreign companies exiting Nigeria's cement industry.