Recently, Hainan Huaxin Pan-African Investment Co., Ltd. (Hereinafter referred to as " Huaxin Cement ") completed overseas mergers and acquisitions at a speed that can be called "Blitzkrieg"-it took only two days to successfully pass the ODI project approval, and then brush the new record of Hainan ODI approval.
It is reported that Huaxin Cement successfully completed the acquisition of 83.81% of Nigeria's Lafarge Africa Co., Ltd. on August 29, with a transaction value of 773 million US dollars, becoming the company's largest shareholder. The successful completion of this cross-border merger and acquisition not only made Huaxin Cement the leader of the West African building materials giant, but also continued to lead the first camp of "going out" of Chinese cement enterprises with its overseas investment territory covering 18 countries and its annual production capacity expected to exceed 40 million tons.
ODI project approval refers to the process in which enterprises or individuals in China need to submit applications to the relevant departments of the Chinese government and obtain approval when making Overseas Direct Investment.
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