Huaxin Cement to acquire a 75% stake in Zambia and Malawi businesses of Lafarge for $160m.

Huaxin Cement, a building materials manufacturer and distributor, to acquire a 75% stake in Zambia and Malawi businesses of Lafarge, a French industrial company producing cement, construction aggregates and concrete, for $160m. The deal, which is still subject to approval by authorities, would give Wuhan, central Hubei province-based Huaxin an additional output of 1.75 million tons of cement a year in the two countries. It can further increase cement production through the limestone resources the two firms own.