Lafarge increases stake in UNICEM to 85%

Lafarge Africa Plc. (‘’The Company’’) has notified The Nigerian Stock Exchange that Nigerian Cement Holdings B.V.(NCH), 50% affiliate of Large Africa Plc. 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 now increased its stake to 85%.
Refer to Market Bulletin LCU/11/18/08) dated 18 November 2014 where Lafarge Africa Plc. notified The NSE that Nigerian Cement Holdings B.V. (NCH), 50% affiliate of Lafarge Africa Plc. has 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% will be acquired in 2015, while the second tranche of 15% will be acquired on or before February 2016.