The Daily Update: 21 June

April 16, 2024

The latest updates from the JSE and NYSE over the past 24 hours.


South Africa


  • Annual CPI slowed to 6.3% in May from 6.8% in April.

Afrimat Limited

  • Afrimat Limited has entered into a share purchase agreement with Caricement B.V., a subsidiary of Holcim Group, to acquire 100% of the issued share capital of Lafarge South Africa Holdings Proprietary Limited (LSA) and its subsidiaries.
  • Lafarge South Africa is a leading provider of construction materials in South Africa, offering products such as aggregates, concrete, cement, and fly-ash.
  • The acquisition aligns with Afrimat's strategy to expand its national footprint and product offerings in the construction materials segment.
  • The purchase consideration for the acquisition is $6 million, payable in cash on the closing date.
  • Afrimat has agreed to repay or facilitate the repayment of the loan amounts owed by LSA to the seller, totaling R900 million.
  • The acquisition will become effective on the closing date, which is the 10th business day after fulfilling certain conditions precedent, including approval from competition authorities, the Minister of Mineral Resources and Energy of South Africa, and the Financial Surveillance Department of the South African Reserve Bank.
  • The share purchase agreement includes limited representations and warranties between the parties.
  • Based on the unaudited consolidated management accounts of LSA Group, the net asset value was R1.4 billion, and the attributable profit before interest, taxation, depreciation, and amortization was R38 million for the year ended December 31, 2022.


Related Tags:
1 min read
Share this article:

Related Articles

All articles