Lafarge Africa Plc Issues Update On The Sale Of Lafarge South Africa Holdings

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Wednesday, August 07, 2019   /09:40AM / By NSE / Header Image Credit: Lafarge Africa Plc

 

Following the approval of the sale of Lafarge South Africa Holdings (“LSAH”) by shareholders at the 60th Annual General Meeting of the Company held on Monday, 22nd July, 2019, a transaction closing meeting was held on Wednesday 31st July, 2019 at which parties to the transaction exchanged documents as specified in the Share Purchase Agreement. The closing meeting therefore brings to a conclusion the divestment of Lafarge Africa Plc (“the Company”) from LSAH.

As approved by shareholders at the last Annual General Meeting, the agreed sale price of US$316,289,060.55 was utilized to settle the entire principal (US$ 293,000,000) and accrued interest to 31st July, 2019 (US$23,289,060.55) on the Inter Company loan owed to Caricement BV (Purchaser). 

With this set-off, the Company does not have any foreign currency debt on its books with the only debt being the N33.6 billion corporate bond due for redemption in June 2021 and N16.0 billion on Central Bank Of Nigeria Intervention loans through the Bank of Industry.

 

Proshare Nigeria Pvt. Ltd.


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Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

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