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The board of directors of Lafarge Africa has approved the commencement of a merger with United Cement Company (UNICEM) and Atlas Cement Company (ATLAS).
The brief on the impending merger was contained in a press release published on the website of the Nigerian Stock Exchange (NSE) on Friday, August 4, 2017.
Lafarge owns 100 per cent stake in both UNICEM and ATLAS, with the ATLAS holding carried at cost at a valuation of about N2 billion.
Lafarge Africa recently concluded the merger and de-listing of Ashaka Cement, which it acquired a few years back in a cash plus equity deal valued at over N58 billion.
