24 May Disposal Of 14% Shareholding In Mbeya Cement Company Limited
Securities Exchange Notices | Chilanga Cement Plc | Disposal Of 14% Shareholding In Mbeya Cement Company Limited
The Board of Lafarge Zambia Plc (“Lafarge” or the “Company”) wishes to advise the shareholders and the market participants that the Company has reached an agreement with Pan African Cement Limited (“Pan African”) to dispose of Lafarge’s 14% shareholding in Mbeya Cement Limited (“Mbeya”) in Tanzania to Pan African, the majority shareholder in Lafarge, for consideration of ZMW 26,221,000 (“the Transaction”).
As at 14th May 2021, the market value of Lafarge Zambia was ZMW 660 Million. Accordingly, the percentage ratio of the consideration (ZMW 26.2) to the market capitalisation of Lafarge Zambia is 4%
