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Fossil Mines to buys Lafarge Zimbabwe

by Simbarashe Sithole
02 Dec 2022 at 08:38hrs | Views
Fossil Group CEO Mr Obey Chimuka and John Stull Larfarge Holcim Director who came to do the handover takeover yesterday
Fossil Mines (Private) Limited has bought 76,45 percent of Lafarge Zimbabwe stake owned by International Cement Limited.

Lafarge Zimbabwe is one of the biggest cement and related products producers.

In a public notice released today Lafarge said the sale will be concluded soon upon the transfare of its shares by Associated International Cement Pvt Ltd share in exchange for consideration agreed by parties.

"The company wishes to advise shareholders and members of investing public on the withdrawal of cautionary announcement dated 18 November 2022 as the sale and purchase agreement for the sale of 76,45 percent stake in the company has been finalised.

"The sale is thus soon to be concluded upon the transfer of the company shares owned by Associated International Cement Limited in Fossil Mines Private Limited stake in exchange for the consideration agreed by parties," reads the notice.

Fossil Mines was among the five invited business for the acquisition through an auction system.

Source - Byo24news