Chinese Firm Huaxin Cement Completes 100% Takeover of Lafarge Africa in $1 Billion Deal
- Holcim has announced its divestment of equity in Lafarge Africa, one of the leading cement manufacturers in Africa
- The company said it had completed the sale of its 100% shareholding to Huaxin Cement, a Chinese company
- The Swiss building material company said it will now focus on other markets in Africa
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The Swiss building materials company, Holcim, has announced that it has completed the sale of its 83.81% shareholding in Lafarge Africa to Huaxin Cement, a Chinese company.
On Friday, August 29, 2025, Holcim disclosed that the transaction was valued at about $1 billion on a 100% equity basis, before dividend adjustments.
Source: UGC
Deal details and value
A prior report by Legit.ng disclosed that Holcim announced it had agreed to sell its Nigerian business to the Chinese cement maker..
According to reports, Lafarge Africa is a member of the Holcim Group, which makes roofing and other housing materials such as cement, aggregates for construction and ready-mix concrete.
Martin Kriegner, Holcim’s regional head for Asia, the Middle East and Africa, said the decision allows the company to focus on growth in other markets as it ensures continuity for the Nigerian operations.
Chinese cement firm enters Nigeria
According to a report by TheCable, Holcim said Huaxim Cement is a trusted buyer committed to further developing the Nigerian business.
He said:
“At the same time, the sale proceeds give Holcim additional capacity for our growth-focused capital allocation. We wish Lafarge Africa PLC and Huaxin Cement continued success.”
Reports say Huaxin Cement is one of China’s largest producers of building materials, expanding its footprint across the African continent.
The Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, on April 30, 2025, said the commission had not received any formal notice regarding the sale of Lafarge Africa to Huaxin Cement.
Regulatory concerns
Also, before the deal was completed, the federal high court had asked Lafarge and Huaxin Cement to maintain the status quo.
Some investors had alleged that some political bigwigs were blocking the sale of Lafarge to Huaxin Cement.
Industry impact and competition
The entrance of the Chinese company into Africa and Nigeria would further drive competition in the industry, analysts say.
“Lafarge had been a distant competitor in the Nigerian cement industry, which is dominated by Dangote Cement and BUA Cement,” financial analyst Osas Igho said.
According to him, the Chinese firm will bring robust competition and may even force down the price.
“If we know how the Chinese operate, they always try to dominate whichever sector they enter, “ Ishaya Ibrahim, financial analyst and co-host, GetInvolved, said.
He disclosed that the era of near monopoly by the two largest cement makers in Nigeria may be ending.
Source: Getty Images
“In the last two years, there have been more entrants or announcements of newcomers into the industry.
Mangal Cement has begun distribution, and MSM announced a $600 million investment in a proposed cement factory. These will definitely drive competition in the industry,” he said.
New $600m Nigerian cement giant to rival Dangote, others
Legit.ng earlier reported that Nigeria’s cement industry is set for another shake-up as MSM Group announced it is on track to build a $600 million cement factory with a production capacity of 12 million tons annually.
The project, located in Kebbi State, is part of the company’s long-term investment strategy to diversify into the manufacturing sector.
Speaking at a press briefing in Abuja, MSM Group Chairman Muazzam Mairawani revealed that the facility will be executed in clusters, with each cluster valued at about $600 million.
Source: Legit.ng
