A leading food, cement and infrastructure conglomerate, BUA Group, has announced the acquisition of majority stake in P.W. Nigeria Limited – one of the largest construction, engineering and mining companies in Nigeria.
According to a statement from BUA, the acquisition was done in order to further deepen its investments in the infrastructure business in Sub-Saharan Africa.
The Founder/Executive Chairman of the group, Abdul Samad Rabiu, said, “This acquisition marks the beginning of the next phase of our medium-term strategy for our infrastructure business following the completion of the consolidation of our cement arm, BUA Cement, in January 2020.
“BUA’s acquisition of majority holdings in PW Nigeria Limited provides a prime opportunity to increase our investments in the entire value chain of the Cement, Mining and Construction industry where we already have BUA Cement Plc, the second-largest cement company in Nigeria, as well as investments in other areas including mining, quarrying, construction, power and logistics amongst others.”
[READ MORE: RMB aids acquisition of Nigeria’s Lucky pen by South Africa’s BIC)
Rabiu expressed the belief that P.W. Nigeria Ltd provided a strong value proposition too difficult to ignore with its solid experience in building dams, roads, airports, water projects and other infrastructure projects in Nigeria.
He further disclosed that as Nigeria and most of West Africa looks to improve infrastructural development in coming years, it became quite necessary for BUA to position itself strategically to support critical investments and government effort and unlock untapped opportunities in the infrastructure development sector.
With the acquisition of P.W. Nigeria, the BUA Group will extend its investments, leadership and capacity in the infrastructure space and projects are expected to benefit from tight integration of BUA’s cement business and PW Nigeria’s construction business.
About P.W. Nigeria Limited: The company was founded in 1948 in Ireland but began operations in Nigeria in 1974. The construction firm has an extensive modern fleet of construction equipment and a team of highly trained and professional staff.
It is one of the leading construction contractors of roads, bridges, airports, urban infrastructure, dams and water treatment facilities. It has worked with an array of clients which include World Bank, Federal Government, State Governments, Local Governments, Multinationals and so on.
[READ ALSO: Airtel Africa receives NCC approval to acquire 10 MHz spectrum for $94 million)
About BUA Group: The conglomerate was established in 1988 by founder and industrialist, Abdul Samad Rabiu as a Private limited liability company with interests in marketing of iron & steel, agricultural and industrial chemical. I
t has grown over the years to entrench its place as a leading player in the foods, mining, manufacturing and infrastructure space in Africa with major investments in cement, mining, real estate, steel, port operations, sugar and agribusiness.
Leave a Reply