Huaxin Cement, the acquirer of Holcim’s 83.8 percent stake in Lafarge Africa, will pay $773.86 million, a figure that represents only 66 percent of the company’s current market valuation of $1.17 billion.
In its disclosure, Huaxin explained that the original purchase price of $838.8 million was revised downward to account for “leakages” identified in the share purchase agreement. These leakages refer to dividends paid by Lafarge Africa to Holcim AG between January 1, 2024, and August 29, 2025, the date the transaction was finalised.
During this period, Lafarge Africa distributed a total of $64 million in dividends to Holcim, which ultimately led to the final price adjustment.