Lafarge Africa approves the sale of its South African subsidiary for US$316 million

NIGERIA – Lafarge Africa Plc, a pan African cement manufacturer headquartered in Nigeria is set to offload Lafarge South Africa Holding Limited (LSAH)to LafargeHolcim Group for the sum of US$316.2 million. This follows the shareholder’s approval of the proposed sale of the unit during the company’s Annual General Meeting (AGM) which happened in Lagos, Nigeria. Speaking on the approval of the proposed sale of its South African subsidiary, the company’s Chairman, Mr Mobolaji Balogun, disclosed that LSAH sale would be beneficiary to all shareholders. According to Balogun, the sale would ultimately…

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