Holcim to divest in Uganda and Tanzania

Building materials manufacturer Holcim has signed agreements to divest its businesses in Uganda and Tanzania.

The agreement will see it sell Hima Cement Ltd, its local subsidiary in Uganda, to the Sarrai Group, for US$ 120 million. 

The Swiss-based company has also agreed to sell its 65% stake in Tanzania’s Mbeya Cement Company Ltd to Amsons Group for an undisclosed sum. 

The completion of both transactions is subject to obtaining the respective regulatory clearances.

Martin Kriegner, regional head Asia, Middle East & Africa said: “These divestments advance our strategy to consolidate our leadership in core markets as the global leader in innovative and sustainable building solutions. With the Sarrai Group and Amsons Group, we are pleased to have found strategic and trusted partners who are best positioned to develop these businesses in the long term.”