By Abbanobi -Eku Onyekachi, Abuja
The Senate Committee on Capital Market has resolved to summon Lafarge Africa Plc over the planned divestment of 83.8% majority shares in the cement industry.
This decision follows an interactive session with regulatory agencies, including the Securities and Exchange Commission (SEC) and the Bureau of Public Enterprises (BPE).
The BPE confirmed that the 16.19% shares held by Nigerian public shareholders in Lafarge Africa Plc remain intact. The agency assured that the planned divestment involves shares owned by the company, not the Nigerian public.
The SEC stated that it has not received any formal filing regarding the proposed divestment of majority shareholding in Lafarge Africa Plc to Chinese investors. The agency explained that the notified transaction involves an internal restructuring within the Holcim Group.
The Senate Committee has directed its clerk to write to the Corporate Affairs Commission (CAC) regarding the divestment. Lafarge Africa Plc will be summoned to provide clarification on the planned majority shareholding divestment.
