Zambia: Huaxin Cement has concluded its acquisition of Holcim's Zambian business. The business consists of a 75% stake in Lafarge Zambia. The company is reported to have a total value of US$150m. Both Chinese and Zambian competition authorities have now approved the deal.
Holcim's chief executive officer Jan Jenisch said "This divestment is another step in our transformation to become the global leader in innovative and sustainable building solutions, giving us the flexibility to continue investing in attractive growth opportunities. Huaxin has been a trusted partner for many years and we see the company as an ideal owner to further develop the business in Zambia."
In 2020 and the first 11 months of 2021, the Switzerland-based group received US$3.1bn from divestments.