Lafarge Nigeria to take complete control of United Cement

12 November 2014

A Nigerian unit of France’s Lafarge said on Monday it had entered into an agreement with Flour Mills of Nigeria to purchase a 30% stake in United Cement Company of Nigeria.

The deal will give Lafarge’s Nigerian Cement Holdings complete control of the country’s third-largest cement manufacturer.

“Pursuant to the agreement, a first 15% tranche would be acquired in the first quarter of 2015, while the second 15% tranche is scheduled for acquisition by February 2016 at the latest,” Lafarge said in a statement.

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