By InvestAdvocate

Lagos (INVESTADVOCATE)-Cement producer, Ashaka Cement Plc (ASHAKACEM) said on Wednesday that Lafarge Africa Plc has received the approval of the Securities and Exchange Commission (SEC) to proceed with the Tender for the entire 392,864,273 ordinary shares held by minority shareholders which represents 17.54 percent of the issued share capital of the company.

“We confirm that the board of Lafarge Africa Plc has now notified the board of AshakaCem Plc of its intention to proceed with the Tender Offer to all the minorities of the company, the cement manufacturer said in a notice to the Nigerian Stock Exchange (NSE).