Holcim: Nigerian operations sold to China's Huaxin

(CercleFinance.com) - Holcim announced on Monday that it had reached an agreement to sell its 83.
8% stake in Lafarge Africa to the Chinese group Huaxin Cement, based on a total enterprise value of E1bn.

Holcim will receive $838.1m. An excellent price for a 2024 Ebitda of around 100m Swiss francs and a limited FCF of 20m Swiss francs, said analysts at Oddo BHF.

This disposal is fully in line with the group's strategy and we are convinced that other disposals could take place in the coming quarters, the broker adds, which notably refers to subsidiaries based in the Philippines and Iraq.

In a press release, Holcim says that the sale of its Nigerian activities should take place in 2025.

On the Zurich Stock Exchange, Holcim shares rose by 0.2% following this announcement.


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