Holcim AG has agreed to sell its stakes in Lafarge Africa to a Chinese cement firm in a deal valued at $1 billion as Holcim seeks to divest from Nigeria.

(Reuters) -Swiss cement maker Holcim will exit its Nigerian business through the sale of its almost 84% stake in Lafarge Africa to China's Huaxin Cement in a $1 billion deal, it said on Sunday. The deal aligns with Holcim's strategy to streamline its portfolio and focus on high-growth regions,

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Holcim AG will sell its 83.8 percent stake in Lafarge Africa to a Chinese cement maker, Huaxin Cement Co., in a deal that values Lafarge Afric

Swiss building materials company Holcim AG agreed to sell its Nigerian business to China’s Huaxin Cement Co. in a deal that values the asset at $1 billion.

Swiss cement giant Holcim has announced its exit from the Nigerian market by selling its nearly 84% stake in Lafarge Africa to China’s Huaxin Cement. ・Holcim is selling its nearly 84% stake in Lafarge Africa to Huaxin Cement,

Holcim (OTCPK:HCMLF)(OTCPK:HCMLY) said Sunday it agreed to sell its stake in Lafarge Africa to China’s Huaxin Cement in a $1B deal.  Holcim owns 83.8% of the Nigerian-based business, the Swiss cement maker said in a statement.