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Lafarge SA to merge South Africa, Nigeria units in $1.35 bln deal-Reuters

Monday, 2 Jun 2014 08:00pm EDT 

Lafarge SA:Lafarge is to combine its South Africa business with publicly traded Nigerian unit Lafarge Cement WAPCO Nigeria Plc, listing its Africa interests together on the Lagos bourse, its country chief executive officer said on June 3-Reuters.Guillaume Roux said the deal, worth $1.35 billion, will see the Lafarge group get $200 million in cash and 1.40 billion new shares in Lafarge WAPCO to effect the merger.The new company Lafarge Africa Plc will have a market capitalization of over $3 billion listed on the Nigerian Stock Exchange, Roux told a news conference.Lafarge group will own 73 percent of the combined entity.The combined company would seek to boost capacity by 5.5 million tonnes to 17.5 million tonnes after the merger.Roux said he expected the deal, which is still subject to shareholders' and regulatory approvals, to close in the second half of the year. 

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2 Oct 2015