₦airaland Forum

[quote]Swiss cement maker Holcim will exit its Nigerian business through the sale of its nearly 84 per cent stake in Lafarge Africa to China’s Huaxin Cement, the firm announced in a statement on Sunday.

The sale price was $1bn for a 100 per cent stake.

It stated, “The sale aligns with Holcim’s strategy to streamline its portfolio and focus on high-growth regions, including the upcoming spin-off of its North American business, which remains on track for a US listing in the first half of 2025.

“The transaction is expected to close in 2025, subject to regulatory approval, according to Holcim’s statement, which did not provide further details on the reason for this specific sale.”

In November 2023, Holcim said it had signed deals to sell its businesses in Uganda and Tanzania, further advancing its strategy to consolidate leadership in core markets as the global leader in innovative and sustainable building solutions.

According to Reuters, the deal marks the latest in a series of African acquisitions by Huaxin Cement.

Last year, it also announced the purchase of South Africa’s Natal Portland Cement Company.

Holcim had been focusing on sustainable growth in its core markets, higher-margin products, and strategic infrastructure investments.

The company is also working to enhance its environmental credentials, having taken a stake in Sublime Systems, a U.S. tech start-up focused on low-carbon cement.

In October, Holcim reported a slightly better-than-expected recurring operating profit of 1.67 bn Swiss francs ($1.90 bn) for the third quarter.

[/quote]https://punchng.com/swiss-cement-maker-sells-1bn-stake-in-lafarge/

While the current environment is too hostile for the investors we already have that many of them are leaving in droves, Tinubu continues globetrotting with taxpayers money pretending to secure investors. He can only deceive his supporters, the rest of us can see through him.

Chincos want to take over Lafarge
I pity the workers
Tinubulation don reach that side

When David Adeleke expressed his discontent with the state of affairs, stating that nothing is working in this satanic dungeon of Tinubu and advising investors against taking risks, some idiotic fóolish noneñtities reacted impulsively and foolishly, failing to constructively engage with his concerns. Everything is folding, the investors that are here are running away. Tinubu is a failure.

Dey say they’re securing investors while those that have been in the country for yrs are all exiting one by one. Only a fool expects honesty from new friends when the old ones are all running away. No amount of positive affirmations can transform the coco yam in the ground to Benue yam at harvest time. The last president of the nation was GEJ. Those that came after him are nothing but rulers. I fully expect the north to support & comply since it is only those that try to make life better for their people that are regarded as effeminate buffoons.

Business

May our land be healed soon.

if we should start running everything in this country without corrupting

so many companies would fold up


me and you kws what i am saying is true

They no longer want anything to do with Tinubu and his APC government

ever since inception of APC in power, worse still Tinubu, there has been a sharp decline in foreign investment, I wonder what indices his supporters ll use as a factor to measure growth. its really despicable to say the least

This is terrible. Nigeria is currently not a good climate for business

Which state their cement been dey reach? I want to check something!

😂🤣

Tinubu has succeeded in destroying the economy of Nigeria same way he destroyed Lagos

Davido was right about the useless president



Cc yarimo FreestuffsNG seunmsg Helinues

Tinubu and the APC have truly mismanaged the country, leaving it in a dire state. Investors are pulling out in large numbers because the business environment is anything but friendly. Meanwhile, our so-called president is traveling to France, supposedly seeking investment, despite it being common knowledge that France primarily exploits other nations.

Francophone countries have grown tired of France’s exploitative practices and are expelling them, yet here we are inviting them into Nigeria under misguided leadership. It’s frustrating to see such decisions being made, further jeopardizing our nation’s future.

Nonsense country

They will keep HIDING THEIR HEAD in shame, for SUPPORTING A ROGUE GOVERNMENT The quality of companies leaving the country should be a thing of Concern they will not see it,
They have run away from this post

VikingKing:
While the current environment is too hostile for the investors we already have that many of them are leaving in droves, Tinubu continues globetrotting with taxpayers money pretending to secure investors. He can only deceive his supporters, the rest of us can see through him.

So the ones that bought the company are not investors? May be they are your " ancestors " .
Olodo clown

It will pay through its nostrils to get back in Nigeria!

VikingKing:
While the current environment is too hostile for the investors we already have that many of them are leaving in droves, Tinubu continues globetrotting with taxpayers money pretending to secure investors. He can only deceive his supporters, the rest of us can see through him.

It's sold to another foreign investors, small thing you will shout Tinubu's name. It is differentto be patriotic from just hating the president. Rest

Lolz, some people will blame Tinubu for Holcim's $1 billion profit after making staggering profits in Nigeria for about a decade. From WAPCO to Lafarge to Holcim to Huaxin, that company has always made great profit.

PrinceOfLagos:
Tinubu has succeeded in destroying the economy of Nigeria same way he destroyed Lagos

Davido was right about the useless president



Cc yarimo FreestuffsNG seunmsg Helinues

The IPOB election sore loser is still here crying and wailing since 2023.
Las las you will find your way to the Lagos lagoon and do the needful.

NNPC will soon leave Nigeria.
Air Nigeria already left remaining PH Refinery, EFCC and ICPC, very soon them go sell their shares and leave Nigeria.
You still get mind Dey Nigeria, na you know

F

Thank you Dangote

This company has been in existence for decades. Have you noticed that Western companies are exiting and Asians are coming in

Africa has still not learned.

Divesting!

VikingKing:
While the current environment is too hostile for the investors we already have that many of them are leaving in droves, Tinubu continues globetrotting with taxpayers money pretending to secure investors. He can only deceive his supporters, the rest of us can see through him.

So the people that bought the stakes are what?

The colonial French company has made so much profit in Nigeria for over the years.

Lafarge was the big boy in cement until Dangote came on the scene.

Now they can't compete any longer, they are running back home to little Europe with their tails between their legs.

The Chinese have bought them out.

Truth is, the Chinese and Indians will be the dominant foreign investors in Nigeria going forward.

German, British, French and US companies can't compete with the Chinese.

This is a good deal for Nigeria. Some of that $1 billion purchase price will likely end up in being paid to the Federal government in tax.

Where someone see risk, another see opportunity.

MadamVanessa:




When David Adeleke expressed his discontent with the state of affairs, stating that nothing is working in this satanic dungeon of Tinubu and advising investors against taking risks, some idiotic fóolish noneñtities reacted impulsively and foolishly, failing to constructively engage with his concerns. Everything is folding, the investors that are here are running away. Tinubu is a failure.

Did you read the part where it was said that their stake was sold to Chinese partners.