Lafarge Wapco of Nigeria has received shareholders’ approval to merge with Lafarge's operations in South Africa in a move worth €989.54 million. The company will issue 1.4 billion shares and will reportedly spend €146.84 million in cash to takeover Lafarge's South African unit. The new entity will be known as Lafarge Africa and it will be 73% owned by Lafarge. Shareholders of Lafarge Wapco also approved the company to raise €450.65 million in local or overseas capital markets.
Lafarge Wapco of Nigeria has received shareholders’ approval to merge with Lafarge’s operations in South Africa in a move worth €989.54 million. The company will issue 1.4 billion shares and will reportedly spend €146.84 million in cash to takeover Lafarge’s South African unit. The new entity will be known as Lafarge Africa and it will be 73% owned by Lafarge. Shareholders of Lafarge Wapco also approved the company to raise €450.65 million in local or overseas capital markets.
