5.513 billion yuan! Huaxin Completes Equity Acquisition of Nigeria's Lafarge Africa Company

On August 29, Huaxin Overseas Development ushered in another milestone: it successfully completed the acquisition of 83.81% of the shares of Nigeria Lafarge Africa Co., Ltd. (Lafarge Africa Plc). The transaction consideration was 773 million US dollars (about 5.513 billion RMB), formally becoming the largest shareholder of the company.

Lafarge Africa Co., Ltd. is a well-known listed company in Nigeria. It has four large-scale cement plants in the core market of Nigeria, with an annual cement production capacity of 10.6 million tons. It is also involved in the integrated business of concrete, aggregate and environmental protection treatment, with a current market value of about $1.4 billion. It is noteworthy that since the release of the acquisition information last year, it has been widely supported by local investors. The cement plant

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Nigeria Lafarge Africa Co., Ltd. is an important part of Huaxin's overseas business development, and has been distributed in seven countries. As Africa's most populous country, economy and oil exporter, Nigeria is rich in resources and has great potential for economic development. Huaxin regards the project as an important strategic fulcrum for its development in West Africa, and the successful acquisition will greatly enhance its business coverage and brand influence in Africa and bring new important growth points to Huaxin. After taking over Lafarge Africa Co., Ltd.

, Huaxin will make full use of the experience of enterprise integration, introduce advanced industrial technology and management mode, quickly start the technological upgrading and transformation of factories, greatly improve the efficiency of production and operation and product competitiveness, actively fulfill its social responsibility, and help Nigeria's economic and social development.

By then, Huaxin will not only invest in 14 overseas countries, but also have an annual overseas cement production capacity of more than 40 million tons, making it the largest overseas cement enterprise in China's cement industry.