Holcim to sell stake in Lafarge Africa

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, including the coming spin-off of its North American business, which remains on track for a US 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".