Holcim exit Nigeria, sells 83% stake in Lafarge to Chinese firm

Holcim, a Swiss building materials company has become the latest multinational to exit Nigeria.

The company, over the weekend agreed to sell its 83 percent stake in Lafarge Africa, a leading cement company in Nigeria to Huaxin Cement Limited., a Chinese firm in a deal valued at $1 billion.

In a statement on Sunday, the company said the agreement has already been signed, noting that the transaction is expected to close next year.

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