Majors divest stakes in African cement operations
Heidelberg Materials to sell business in Congo; Holcim complete divestment of stake in Kenyan business
HEIDELBERG Materials have entered into a definitive agreement to sell their majority stake of 91% in Cimenterie de Lukala SA, a cement manufacturer in the Democratic Republic of the Congo (DRC), to WIH Cement Developing Co. Ltd, for an undisclosed sum.
The transaction, which comprises an integrated cement plant in Lukala, near the capital city of Kinshasa, is subject to regulatory approval and is expected to close in 2025.
Heidelberg Materials say the divestment in DRC is part of ongoing portfolio optimization focusing on strengthening their strongest market positions.
Last month Holcim announced the closure of the divestment of their business in Kenya through a sale to Amsons Group of their entire 58.6% stake in Bamburi Cement Ltd, resulting in cash proceeds of more than US$100 million for Holcim.
Holcim say the divestment advances their strategy to consolidate their leadership in core markets, with Amsons Group best positioned to develop the business in Kenya in the long term.
