Deal: Lafarge board approves merger with UNICEM and ATLAS Cement

The board of directors of Lafarge Africa has approved the commencement of a merger with United Cement Company (UNICEM) and Atlas Cement Company (ATLAS).

This was contained in a press release published on the website of the Nigerian Stock Exchange in Friday,  4th of August 2017.

Lafarge owns 100% stake in both UNICEM and ATLAS, with the ATLAS holding carried at cost at a valuation of about N2 billion.

Lafarge Africa recently concluded the merger and de-listing of Ashaka Cement, which it acquired a few years back in a cash plus equity deal valued at over N58 billion.

See press release below;

[gview file=”https://cdn.nairametrics.com/wp-content/uploads/2017/08/LAFARGE_AFRICA_-_PROPOSED_MERGER_CORPORATE_ACTIONS_AUGUST_2017.pdf”]