Senate Clears Lafarge Sale to Chinese Investor, Says Nigerians’ Stakes Safe

Senate Clears Lafarge Sale to Chinese Investor, Says Nigerians’ Stakes Safe

• Upper chamber finds no national security risk, says 16.19% public shareholding remains intact

• Insists transaction must comply with Nigerian laws

Sunday Aborisade in Abuja

Senate on Thursday endorsed the proposed acquisition of Lafarge Africa Plc by Chinese firm, Hainan Huaxin Pan-African Investment Company Plc, declaring that the transaction poses no immediate national security threat and will not affect the 16.19 per cent equity held by Nigerian investors.