The board of Lafarge Africa Plc has approved and authorised the company’s merger with both United Cement Company of Nigeria (Unicem) and Atlas Cement Company Limited.
According to a statement signed on Friday by Mrs Edith Onwuchekwa, the company secretary, the board was waiting for the approval of the necessary regulatory bodies on the proposed merger.
The Board of Directors of Lafarge Africa Plc gave the cement firm leave to “undertake a business combination/merger with United Cement Company of Nigeria (Unicem) and Atlas Cement Company Limited.”
The board authorised the firm to “Enter into any agreement and do all that is necessary to negotiate and implement the merger among UniCem and Atlas,” the statement said.
Mrs Onwuchekwa stressed that Lafarge “will seek the approval of the Securities and Exchange Commission (SEC) and all other relevant regulatory bodies in furtherance of the implementation of the merger.”
Lafarge Africa is a leading sub-Saharan Africa building materials company and a subsidiary of Lafarge Holcim, a world leader in building materials.
Listed on the Nigerian Stock Exchange (NSE) with a presence in Africa’s two largest economies, Nigeria and South Africa, Lafarge Africa is actively participating in the urbanisation and economic growth of the continent.
On the other hand, Unicem is one of the leading brands in the Eastern region of Nigeria, with an installed capacity of 5 MMT. It has track record of quality, consistency and exhibits excellent strength performance at all ages.
Atlas Cement Company Limited, it engages in bagging, selling, distribution, and dealing of cement products. The company was incorporated in 1999 and is based in Port Harcourt, Nigeria.