Lafarge Africa Notifies NSE of Its Board Decision to Merge with UniCem & Atlas Cement Company Ltd


Wednesday, September 27, 2017 / 11:09 AM /NSE

Lafarge Africa Plc (“Lafarge Africa” or “the Company”) hereby notifies The Nigerian Stock Exchange of the decision of the Board of the Company to merge United Cement Company of Nigeria Limited (“UniCem”) and Atlas Cement Company Limited (“Atlas”) with Lafarge Africa. 

UniCem and Atlas are wholly owned subsidiaries of Lafarge Africa, with the Company holding 100% of the equity in both companies. The merger will enable Lafarge Africa to take advantage of benefits arising from various synergies as well as benefit from efficiencies arising from streamlining the operations of UniCem and Atlas. The Company will continue to efficiently service its large, diversified customer base.

UniCem and Atlas will be merged with Lafarge Africa, by way of a Court sanctioned Scheme of Merger. The Company has received the Securities & Exchange Commission’s Approval-in-Principle to the Scheme of Merger. An application will be submitted imminently to the Federal High Court, in respect of obtaining an Order to convene the respective meetings of shareholders of Lafarge Africa, Unicem and Atlas.

Related News

1.       Lafarge Africa Plc Announces Commencement of Closed Period
2.      Lafarge Africa Plc Proposes Merger With UNICEM and Atlas Cement Company Ltd
3.      Lafarge Africa Plc. - Earnings Update Margins Break Historical Bounds
4.      Lafarge Africa Plc - Upgrading to Outperform on Stellar Q2 2017 Results
5.      Lafarge Africa Plc H1’17 Results - Earnings Beat on Strong Q2 Numbers
6.  Lafarge Africa Plc - Q2-17 PAT; Strong Delivery, Amidst Energy and Leverage Challenges
7.      WAPCO Declares N19.73bn PAT in Q2 2017 Result,(SP:N54.60k)
8.     Lafarge Africa Plc Appoints Mrs. Edith Onwuchekwa as Company Secretary
9.      Lafarge Africa Plc Announces Resignation of Directors
10.  Lafarge Africa Requests Approval of Rights Issue at AGM
11.   Lafarge Africa Q1 2017 Results Review - Downgrading to Neutral
12.  Lafarge Africa Plc Opts for Rights Issue amidst debt restructuring
13.  Lafarge Africa Plc to Present a Resolution to Raise N140bn by Way of a Rights Issue
14.  Lafarge Africa Plc - Q1-17 PAT; Strong Delivery, As Expected
15.   WAPCO Declares N16.9bn PAT in 2016 Audited Results(SP:N37.80k)

Related News