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Lafarge Africa issued the following press release regarding their mandatory take over bid of the un acquired shares of Ashaka Cement Plc.

  • Offer Opens December 10, 2014
  • Offer Closed January 16, 2015
  • Offer Shares is 927,008,865 ordinary shares representing 41.39% of the company
  • Purchase consideration is 57 ordinary shares in Lafarge Africa for every 202 ordinary shares in Ashaka Cement Plc
  • Additional purchase consideration is a cash payment of N2 (net of taxes) for every ordinary share purchased by Lafarge Africa during the acceptance period made to the accepting shareholders
  • Lafarge shares (P/E ratio 7.5x) closed at N78 per share whilst Ashaka Cement (P/E 9.7x) closed at N24.6 by the close of business Friday December 6th 2014

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