
BUA Obu Cement And CCNN Set To Merge
BUA Group, one of Africa’s largest conglomerates wednesday announced the consolidation of its cement business comprising the publicly listed two million MTPA Cement Company of Northern Nigeria Plc (CCNN) and six million tonnes per annum (MTPA) Obu Cement Company Plc.
The company explained in a statement yesterday, that the move was part of its bid to deepen the Nigerian capital market and enhance the growth of the cement industry,
It also revealed that it has notified the regulators.
Furthermore, BUA announced that its newest three million metric tonnes cement plant which it started constructing in 2018 – the $450million dollars …