Lafarge Africa increases stake in UNICEM
Lafarge Africa Plc has notified the Nigerian Stock Exchange that Nigerian Cement Holdings B.V.(NCH), 50% affiliate of Large Africa has completed the acquisition of the first 15% tranche stake in Unicem.
NCH has 70% share interest in Unicem and upon this acquisition, NCH has increased its stake to 85%.
In Market Bulletin LCU/11/18/08 dated 18 November 2014, Lafarge Africa Plc had notified the NSE that Nigerian Cement Holdings B.V. (NCH), a 50% affiliate of Lafarge Africa Plc, had entered into an agreement with FMN Cement Industries Limited, a wholly-owned subsidiary of Flour Mills of Nigeria Plc to acquire its 30% investment in United Cement Company of Nigeria Limited (Unicem).
Pursuant to the agreement, the first tranche of 15% would be acquired in 2015, while the second tranche of 15% would be acquired on or before February 2016.
Meanwhile, the Board of Directors of Lafarge Africa Plc is scheduled to meet on 11 March 2015 at the Company’s Head Office in Lagos to consider dividends payable to shareholders in respect of the year ended 31 December 2014.