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  • Lafarge Nigeria (UK) Limited has completed the block sale of its 58.61% shareholding in Ashaka Cement to Lafarge Africa Plc
  • This has now triggered an MTO (Mandatory Take Over) in accordance with Section 131 of the ISA Act (No 29 of 2007).
  • SEC Rules and Regulations requires a Mandatory Takeover bid be made to all shareholders of a public company by any party that acquires 30%or more shares of the company.
  • SEC has therefore given Lafarge the authority to proceed with the MTO
  • Lafarge has notified the board of Ashaka Cement of its intention to proceed with the MTO to all shareholders holding 41.39% of the company’s shares.
  • See official press release

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