Lafarge Africa has indicated plans to merge its operations with that of its two subsidiaries; United Cement Company of Nigeria (UniCem) and Atlas Cement Company, the cement firm said in a letter to the Nigerian Stock Exchange (NSE) on Wednesday.
According to the cement firm, maybe merger will enable the enlarged Lafarge Africa to take advantage of benefits arising from various synergies as well as benefits from efficiencies arising from streamlining the operations of UniCem and Atlas.
"UniCem and Atlas will be merged with Lafarge Africa, by way of a court-sanctioned scheme of merger," Lafarge Africa company secretary, Edith Onwuchekwa said in the letter.
She said the company has received the regulatory 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," Onwuchekwa said.
Wednesday, 27 September 2017
Lafarge Africa to merge operations with two subsidiaries; Unicem, Atlas Cement
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