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Lafarge cement sold to Chinese

Lafarge hereby provides a further update to shareholders and the market that on 11th June 2021 an agreement for the sale and purchase of 75% of shares in the Company was executed between the Majority shareholders Financière Lafarge SAS (“Financière Lafarge”), Pan African Cement Ltd (“Pan African”) and Huaxin (Hainan) Investment Co., Ltd. (“Huaxin”) whereby Financière Lafarge SAS and Pan African Cement Ltd have agreed to sell their shares to Huaxin at an enterprise value of USD 150 million (ZMW 3.3 billion) for 100% of the Company (the “Transaction”). The closing of the Transaction is subject to the terms and conditions set out in the agreement between the parties and to customary regulatory approvals required both in Zambia and China.

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