This Is The Terms of Offer For Lafarge’s Proposed Takeover of Ashaka Cement

Lafarge Africa issued the following press release regarding their mandatory take over bid of the un acquired shares of Ashaka Cement Plc.

• Offer Opens December 10, 2014
• Offer Closed January 16, 2015
• Offer Shares is 927,008,865 ordinary shares representing 41.39% of the company
• Purchase consideration is 57 ordinary shares in Lafarge Africa for every 202 ordinary shares in Ashaka Cement Plc
• Additional purchase consideration is a cash payment of N2 (net of taxes) for every ordinary share purchased by Lafarge Africa during the acceptance period made to the accepting shareholders
• Lafarge shares (P/E ratio 7.5x) closed at N78 per share whilst Ashaka Cement (P/E 9.7x) closed at N24.6 by the close of business Friday December 6th 2014