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In November 2023, Holcim agreed to sell its businesses in Uganda and Tanzania. The company sold Hima Cement Ltd in Uganda to the Sarrai Group for an enterprise value of USD 120 million. In Tanzania, Holcim divested its 65% stake in Mbeya Cement Company Ltd to Amsons Group.
Holcim AG, a Swiss building materials company and the majority shareholder in Bamburi Cement has signed an agreement to sell its entire Nigerian business to Chinese firm Huaxin Cement for USD 1 billion.
In a transaction expected to close in 2025, Holcim agreed to exit Nigeria through the sale of its 83.8% shareholding in Lafarge Africa Plc to the Chinese Cement company, subject to regulatory approvals. The divestment from Nigeria is in line with Holcim’s broader strategy to streamline operations, and focus on more profitable markets.
In the final quarter of 2021, Huaxin Cement completed the acquisition of Lafarge Cement Malawi and subsequently acquired a 75% stake in Lafarge Zambia for USD 150 million. Holcim has been restructuring its global business since it acquired LaFarge in 2015, beginning with the sale of units in Cote d’Ivoire, Morocco, Guinea and Cameroon in 2016. In June 2022, the 76.45% stake in Lafarge Zimbabwe was acquired by Fossil Mines at USD 29.7 million.
In just three years (2019-2021), Holci made over USD 3.1bn in divestments from the Indian Ocean cluster. It has also divested from Brazil, India, Russia, and other countries as part of its strategy to keep its books cash-rich to facilitate acquisitions in other markets and sectors.
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In November 2023, Holcim agreed to sell its businesses in Uganda and Tanzania. The company sold Hima Cement Ltd in Uganda to the Sarrai Group for an enterprise value of USD 120 million. In Tanzania, Holcim divested its 65% stake in Mbeya Cement Company Ltd to Amsons Group.
