La­farge Africa to merge with Unicem, At­las

Daily Trust - - BUSINESS - From Sun­day Michael Ogwu, La­gos

The Board of Di­rec­tors of La­farge Africa Plc has ap­proved and au­tho­rised the com­pany to un­der­take a busi­ness com­bi­na­tion/merger with United Ce­ment Com­pany of Nige­ria Lim­ited (Unicem) and At­las Ce­ment Com­pany Lim­ited (At­las).

The board de­ci­sion which was taken on the 4th of Au­gust was com­mu­ni­cated to the Nige­rian Stock Ex­change (NSE) yes­ter­day by the Com­pany Sec­re­tary, Edth On­wuchekwa

The board di­rected the man­age­ment to en­ter into an agree­ment and do all that is nec­es­sary to ne­go­ti­ate and im­ple­ment the merger be­tween Unicem, At­las and La­farge.

It equally di­rected the man­age­ment to seek the ap­proval of the Se­cu­ri­ties and Ex­change Com­mis­sion (SEC) and all other rel­e­vant reg­u­la­tory bod­ies in fur­ther­ance of the im­ple­men­ta­tion of the merger.

La­farge Africa is a lead­ing sub-Sa­ha­ran Africa build­ing ma­te­ri­als com­pany and a sub­sidiary of La­farge Hol­cim, a world leader in build­ing ma­te­ri­als.

Listed on the Nige­rian Stock Ex­change (NSE) with a pres­ence in Africa’s two largest economies, Nige­ria and South Africa, La­farge Africa is ac­tively par­tic­i­pat­ing in the ur­ban­i­sa­tion and eco­nomic growth of the con­ti­nent.

On the other hand, Unicem is one of the lead­ing brands in the East­ern re­gion of Nige­ria, with an in­stalled ca­pac­ity of 5 mil­lion met­ric tonnes (mmt). It has track record of qual­ity, con­sis­tency and ex­hibits ex­cel­lent strength per­for­mance at all ages.

At­las Ce­ment Com­pany Lim­ited, is en­gaged in bag­ging, sell­ing, dis­tri­bu­tion and deal­ing in ce­ment prod­ucts. The com­pany was in­cor­po­rated in 1999 and is based in Port Har­court, Nige­ria.

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