Deals
Lafarge Combination of African Units Rivals Dangote Cement
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Lafarge SA, the French cement maker that plans to merge with Holcim Ltd. of Switzerland to become the world’s biggest producer of the building material, will combine Nigerian and South African assets to form a new company to compete with Africa market leader Dangote Cement Plc.
The entity will be known as Lafarge Africa Plc and be listed on the Nigerian stock exchange, the Paris-based company said in a statement yesterday. The business will have cement production capacity of 12 million metric tons and had combined revenue of $1.25 billion in 2013.