Holcim has finalised the divestment of its Nigeria business, selling its entire 83.81% stake in Lafarge Africa PLC to Huaxin Cement for an equity value of $1 billion on a 100% basis, before dividend adjustments.

The transaction marks a strategic exit by Holcim from the Nigerian market while positioning Huaxin Cement as a major player in the country’s construction materials sector.

Martin Kriegner, Holcim’s Regional Head for Asia, the Middle East, and Africa, described the sale as a mutually beneficial arrangement.
“We are pleased to have found in Huaxin Cement a trusted buyer that is committed to further developing the business in Nigeria. 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,” Kriegner said.

Holcim, headquartered in Zug, Switzerland, is a leading partner in sustainable construction, with net sales of CHF 16.2 billion in 2024. The company operates in 45 markets globally and employs over 48,000 people, offering end-to-end building materials and solutions across infrastructure, industrial, and residential projects under premium brands such as ECOPlanet, ECOPact, and ECOCycle.

The divestment is expected to provide Huaxin Cement with a stronger foothold in Nigeria’s cement and construction materials market, potentially expanding local production capacity and enhancing the availability of construction inputs for ongoing and upcoming infrastructure projects. For Holcim, the transaction allows for a reallocation of capital toward growth opportunities in other strategic markets across Asia, Europe, and the Middle East.

Industry observers note that the sale could signal a shift in foreign investment patterns in Nigeria’s construction sector, as global companies recalibrate their portfolios while domestic and regional players expand their presence.