Property Flash


June 22 2023

Mid-tier mining and materials company Afrimat has agreed to buy Lafarge SA, a construction materials provider with a focus on cement. The deal is well-timed for Afrimat which is cash-flush and has said that there has been an increase in demand for construction materials as South Africans start to renovate their homes, having exited the Covid-19 pandemic.

Afrimat’s CEO, Andries van Heerden, said the deal was one of the most important in Afrimat’s history with Lafarge’s businesses including some of the best assets in the country’s construction industry.

Afrimat which is worth around R9.9bn and which listed on the JSE in 2006, would buy all of Lafarge SA and its subsidiaries, collectively known as the LSA Group, which is owned by a subsidiary of Swiss-French multinational building materials manufacturer, Holcim Group.

Afrimat’s share price has climbed 19% over the past seven days and 22.77% year-to-date, with shareholders applauding the takeover.

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