Holcim to sell Lafarge Africa stake to Huaxin Cement in $1 billion deal

Swiss cement maker Holcim will exit its Nigerian business through the sale of its almost 84% stake in Lafarge Africa to China's Huaxin Cement in a $1 billion deal, it said on Sunday.

 

The transaction is expected to close in 2025, subject to regulatory approvals, Holcim's statement said. 

The deal aligns with Holcim's strategy to streamline its portfolio and focus on high-growth regions, including the coming spin-off of its North American business, which remains on track for a U.S. listing in the first half of 2025. 

Holcim has focused on sustainable growth in its core markets, higher-margin products and strategic infrastructure investments. It is also seeking to improve its environmental credentials and in September took a stake in Sublime Systems, a U.S. tech start-up working on low-carbon cement. 

In October Holcim reported a slightly better than expected recurring operating profit of 1.67 billion Swiss francs ($1.90 billion) for the third quarter.