Major shareholding change on the cards at Lafarge

A MAJOR shareholder shakeup is looming at Lafarge, as the majority owner is currently considering an offer for its stake.
In a statement last week, the cement manufacturer urged caution in the trading of its securities, saying the deal could affect the value of its shares.
“Shareholders and members of the investing public are advised that Associated International Cement has received certain offers for its 76,45 percent stake in the company,” Lafarge said.

This comes as Lafarge’s cement mills have been restored to normal following the collapse of a roof at one of its sites last year, which had an adverse impact on the company’s operations. The shareholder negotiations are also happening at a time the company is working on strategies to eliminate challenges in securing foreign currency for the importation of critical consumables to service its plant and equipment, which had become prone to technical failures. In its latest trading update, the cement maker said it faced significant setbacks in industrial performance during the quarter to September 30