The board of directors of Lafarge Africa has approved the commencement of a merger with United Cement Company (UNICEM) and Atlas Cement Company (ATLAS).
This was contained in a press release published on the website of the Nigerian Stock Exchange in Friday, 4th of August 2017.
Lafarge owns 100% stake in both UNICEM and ATLAS, with the ATLAS holding carried at cost at a valuation of about N2 billion.
Lafarge Africa recently concluded the merger and de-listing of Ashaka Cement, which it acquired a few years back in a cash plus equity deal valued at over N58 billion.
See press release below;
