Lafarge Board Approves Merger With Unicem, Atlas Cement

By Nse Anthony-Uko
(Sundiata Finance) — The board of directors of Lafarge Africa said it has approved the commencement of a merger with United Cement Company (Unicem) and Atlas Cement Company (Atlas).
The company made this known in a press release signed by its secretary, Mrs. Edith Onwuchekwa, published on the website of the Nigerian Stock Exchange (NSE).
According to the company, the board has approved to enter into any agreement and so all that is necessary to negotiate and implement the merger among Unicem, Atlas and Lafarge.
The company added that it seek the approval of the Securities and Exchange Commission and all other relevant regulatory bodies in furtherance of the implementation of the meger.
Lafarge owns 100 per cent stake in both Unicem and Atlas, with the Atlas holding carried at cost at a valuation of about N2 billion.
Recently, the country chief executive officer, Lafarge Africa, Michel Puchercos, said that the acquisition of Unicem in 2016 was in line with the company’s capacity expansion plans.
Puchercos noted that the doubling of the production capacity of the Mfamosing plant in Calabar to five million metric tonnes per annum and had contributed significantly to Lafarge Africa’s capacity and footprint in Nigeria, saying “It has provided an opportunity to increase our share of the cement market in the south east and south regions, and has begun to impact positively on the financial results of the company.”
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.

Leave a Reply

Your email address will not be published. Required fields are marked *


Sundiata Post Media Ltd.

Address: 3rd Floor Office Suite, Bayelsa State Guest House, Plot 1038, Shehu Shagari Way, Maitama, Abuja, Nigeria.
Tel: +234(0)92900705, +234(0)8173460599
Whatsapp: +234(0)8053069436
BBM PIN: 5619150D

Enugu Regional Office: SW 1 New Haven Shopping Mall, Enugu, Enugu State, Nigeria.
Tel: +234(0)7062582838

London Office: 18 Belgrave Avenue, Wd18 7UE, Watford, United Kingdom.
Tel: +447417554143

Washington Office: 1245 Delafield PI NE, Washington DC 20017, USA.
Tel: 0092404216156
About Us

SundiataPost is published by Sundiata Post Media Limited, Sundiata Post is Nigeria’s most authoritative online newspaper and ranks among the top five online news platforms in Nigeria.

Guild of Corporate online publishers
A Glance at Our Advert Rate.

Inside Pages

Size In Pixels - Amount

120×180 - N27,967.50

300×100 - N24,695

Text Link - N11,275

More Details info

About Us | Contact Us | Privacy Policy | Terms of Use | Advert Rate