Holcim exits Nigeria with $1bn divestment

Holcim has finalised the sale of its Nigeria business, completing the divestment of its 83.81% shareholding in Lafarge Africa PLC to Huaxin Cement. The deal, worth USD 1 billion (£770m) on a 100% basis before dividend adjustments, marks Holcim’s exit from the Nigerian market.

The Swiss-based group said the move would free up capital to support growth elsewhere, while placing Lafarge Africa in the hands of a buyer committed to the local market.

“We are pleased to have found in Huaxin Cement a trusted buyer that is committed to further developing the business in Nigeria,” said Martin Kriegner, regional head Asia, Middle East & Africa at Holcim. “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.”

Holcim is the world’s largest supplier of sustainable construction materials, reporting CHF 16.2 billion (£14.8bn) in net sales in 2024. Its portfolio spans cement, aggregates, ready-mix and building solutions, marketed under brands such as ECOPlanet, ECOPact and ECOCycle.

The divestment reflects Holcim’s strategy of reshaping its global footprint while reinvesting in higher-growth markets and sustainable construction solutions.

Main picture caption: Holcim has completed the $1bn sale of Lafarge Africa PLC to Huaxin Cement.