Nigeria: A court in Lagos has found that it has jurisdiction to hear a suit filed by Strategic Consultancy against the sale of an 84% stake in Lafarge Africa by Holcim to Huaxin Cement. Lafarge Africa submitted the unsuccessful challenge to the court’s jurisdiction. This Day News has reported that the court also ordered the joinder of Netherlands-based Caricement and UK-based Associated International Cements as defendants.
Strategic Consultancy alleges that the sale bypassed minority shareholders, in violation of Nigerian law. Proceedings will continue on 11 June 2025.
