Nigeria: Senate Panel to Summon Nigeria’s Third-Largest Cement Producer Over Proposed Sale to Chinese Firm

Holcim AG, a global building materials company, is reportedly finalising a $1 billion deal to divest its 83.8 per cent stake in Lafarge Africa to Huaxin Cement Co., a Chinese firm.

The Senate Committee on Capital Market has said it would invite Lafarge Africa Plc for questioning over its proposed sale to a Chinese firm to ensure shareholder rights, and transparency of foreign dominance in Nigeria’s cement industry.

The Chairperson of the Committee, Osita Izunaso

disclosed this during an…