Holcim has completed the divestment of its Nigerian operations, selling its 83.81% stake in Lafarge Africa PLC to Huaxin Cement for an equity value of $1 billion on a 100% basis, before dividend adjustments.
The transaction marks Holcim’s full exit from Nigeria’s construction materials market and positions Huaxin Cement as a major new force in the country’s booming infrastructure and real estate sectors.
Martin Kriegner, Holcim’s Regional Head for Asia, the Middle East, and Africa, described the deal as a win-win outcome.
“We are pleased to have found in Huaxin Cement a trusted buyer that is committed to further developing the business in Nigeria. At the same time, the sale proceeds give Holcim additional capacity for our growth-focused capital allocation. We wish Lafarge Africa PLC and Huaxin Cement continued success,” Kriegner said.
Holcim, headquartered in Zug, Switzerland, is a global leader in sustainable construction, generating CHF 16.2 billion in net sales in 2024 across 45 markets. With more than 48,000 employees, Holcim provides premium brands such as ECOPlanet, ECOPact, and ECOCycle, driving innovative and eco-friendly solutions for infrastructure, industrial, and residential projects.
For Huaxin Cement, the acquisition provides a powerful entry into Nigeria’s construction materials industry, one of Africa’s largest and most competitive markets. Analysts expect the move to boost local production capacity and improve the availability of cement and related inputs for Nigeria’s ongoing infrastructure expansion, including housing, roads, and industrial projects.
The transaction also signals a shift in foreign investment patterns in Nigeria’s construction sector. While global firms like Holcim streamline their portfolios toward Asia, Europe, and the Middle East, regional players such as Huaxin are seizing opportunities to expand their footprint in Africa.
Industry watchers believe Huaxin’s long-term strategy will likely focus on scaling Lafarge Africa’s operations, deepening market penetration, and leveraging Nigeria’s growing demand for sustainable building solutions.
According to a 9am News report, Holcim’s exit is part of its broader restructuring to channel resources toward growth markets with higher returns. Meanwhile, the deal highlights Nigeria’s continued attraction as a destination for strategic foreign direct investment in critical sectors such as construction and infrastructure.
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