Nearly two years after acquiring Unicem, Lafarge Africa wants to finally merge the Unicem with its operations.
Wole Adeleke, head of strategy for Africa’s second largest cement producer told Reuters that the consolidation will enable the group to simplify its operations.
He said the consolidation will have no cost cutting impact but a mere operational restructuring of the group.
In a notice to the stock exchange, Lafarge Africa said its board has asked the company to “undertake a business combination with United Cement Company of Nigeria Limited (Unicem) and Atlas Cement Company Limited (Atlas).”
“We needed to simplify the ownership structure of Unicem. Because Unicem has some significant tax attributes it was decided that Unicem should be merged into Lafarge Africa,” he said.