Afrimat buys Lafarge SA for R1bn

Leading mid-tier mining and materials company, Afrimat, has announced the acquisition of Lafarge South Africa Holdings, including all its subsidiaries.

Afrimat will buy the leading construction materials provider for nearly R1billion.

The deal will give Afrimat access to some of the best assets in the SA construction industry at a discounted price.

Lafarge SA had a net asset value of R1.4 billion at the end of its financial year 2022 when its core profit slumped to R38 million, from R311 million in 2021.