Court dismisses Lafarge's objection in suit over planned sale to Chinese firm

Court dismisses Lafarge's objection in suit over planned sale to Chinese firm

A Federal High Court sitting in Ikoyi, Lagos, has dismissed a preliminary objection filed by Lafarge Africa Plc seeking to halt a suit challenging its proposed sale of majority shares to a Chinese firm, Huaxin Cement Limited. Justice Lewis Allagoa on Thursday ruled that the court has jurisdiction to hear the suit brought by Strategic Consultancy Limited, a Nigerian company and minority shareholder in Lafarge. The judge rejected Lafarge’s motion …

Court Dismisses Lafarge Africa’s Sale Objection Suit

By Adedapo Adesanya The proposed sale of a majority stake of Lafarge Africa Plc to a Chinese firm, Huaxin Cement Limited, hit another snag as a Federal High Court sitting in Ikoyi, Lagos, dismissed a preliminary objection filed by the cement maker. Justice Lewis Allagoa on Thursday ruled that the court has jurisdiction to hear […]

Court Strikes Out Lafarge Motion on Jurisdiction over Planned Sale of 83.8% Shares - Tech

Lafarge Africa Plc‘s plea contesting the court’s authority to hear a lawsuit against its planned sale of its shareholding to a Chinese investor has been dismissed by a Federal High Court in Ikoyi, Lagos. Strategic Consultancy Limited, a Nigerian business and shareholder in Lafarge Africa, had sued the cement company over its intention to sell off 83.8 percent of the parent company’s shares in the Nigerian cement company. During the 2001 and 2002…

Planned Sale To Huaxin Cement: Why Court Dismissed Lafarge's Bid To Stop Lawsuit

Planned Sale To Huaxin Cement: Why Court Dismissed Lafarge’s Bid To Stop Lawsuit A Federal High Court in Ikoyi, Lagos, has dismissed a motion by Lafarge Africa Plc challenging the court’s jurisdiction to hear a suit against its planned sale to a Chinese investor, Huaxin Cement Limited.Strategic Consultancy Limited, a Nigerian company and shareholder in Lafarge Africa, had sued the cement company over its planned divestment of 83.8 percent majori…

Court Quashes Lafarge’s Motion On Jurisdiction In Case Against Its Planned Shares Sale To Chinese Firm

A Federal High Court in Ikoyi, Lagos, has thrown out a motion by Lafarge Africa Plc challenging the court’s jurisdiction to hear a suit against its planned sale of the company to a Chinese investor.  A Nigerian company and Shareholder in Lafarge Africa, Strategic Consultancy Limited, had taken the cement company to court over its planned divestment of 83.8 percent majority shares held by its parent company in the Nigerian cement industry. Lafarg…

Court dismisses Lafarge’s objection in suit over planned sale to...

A Federal High Court sitting in Ikoyi, Lagos, has dismissed a preliminary objection filed by Lafarge Africa Plc seeking to halt a suit challenging its prop... #news, #afederalhighcourtsittinginikoyi, #lafarge, #lagos, #lagosstate, #flyingeze