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Court Rejects Lafarge’s Bid to Stop Suit Over Planned Sale to Chinese Firm
Court Rejects Lafarge’s Bid to Stop Suit Over Planned Sale to Chinese Firm
A Federal High Court in Ikoyi, Lagos, has dismissed an application by Lafarge Africa Plc challenging its jurisdiction to hear a suit over the company’s proposed sale of majority shares to a Chinese firm.
Justice Lewis Allagoa, delivering a ruling on Thursday, May 15, 2025, upheld the court’s authority to proceed with the matter filed by Strategic Consultancy Limited, a Nigerian firm and minority shareholder in Lafarge Africa.
Strategic Consultancy is seeking to stop Lafarge’s planned sale of 83 percent of its shares to Huaxin Cement Limited, a Chinese-based company. The plaintiff contends that the transaction was carried out secretly, excluding minority shareholders from the opportunity to purchase the shares. The suit also argues that the sale contravenes key Nigerian laws, including the Companies and Allied Matters Act (CAMA) 2020, the Securities and Exchange Act, and the Nigerian Investment Promotion Act, which prohibit certain transactions involving unregistered foreign entities and protect minority shareholder rights.
Lafarge, which is listed on the Nigerian Exchange, had earlier disclosed that the deal was part of an internal restructuring within the Holcim Group, a Swiss conglomerate that owns over 83 percent of Lafarge Africa’s issued share capital. The planned sale has drawn attention due to Lafarge’s historic acquisition of shares from three government-owned cement firms during the privatisation rounds of 2001 and 2002.
Justice Allagoa also ruled in favor of the plaintiff’s request to join two foreign entities—Caricement BV (Netherlands) and Associated International Cements Ltd (England)—which Lafarge identified as shareholders. The judge granted leave for the two new defendants to be served court processes outside Nigeria.
“The 1st and 2nd defendants’ motion objecting to the court’s jurisdiction is hereby dismissed,” Justice Allagoa ruled. “The persons sought to be joined herein are hereby joined as prayed, and leave to issue and serve the Originating Summons out of jurisdiction is hereby granted.”
The matter has been adjourned to June 11, 2025, for further proceedings
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Adron Homes Hosts First-Ever Golf Tournament, Celebrates Excellence and Sportsmanship
Adron Homes set the stage for a remarkable sporting experience by hosting the Adron Cup Golf Tournament, bringing together golf enthusiasts, industry professionals, and distinguished guests for a day dedicated to excellence, competition, and camaraderie.
The tournament was officially declared open by the Chairman of Adron Group, Aare Adetola Emmanuelking, who earlier this year received the first-ever Nigeria’s Noble Golfer Award, reflecting his growing influence and passion for the game of golf. In a moment that drew applause across the course, he performed the ceremonial tee-off, symbolically setting the tournament in motion.
Following the opening, the Chairman embarked on a tour of the golf course, delighting participants and spectators alike. He played several holes, showing his enthusiasm for the game, while also taking time to engage, encourage, and cheer on the competing golfers.
Players described the experience as inspiring, noting that the Chairman’s presence elevated the spirit of the competition and reinforced the values of sportsmanship and unity that the tournament represents.
As the tournament concluded, Mr. Sunday Aderibigbe, representing the Chairman of Adron Homes, officiated the presentation of awards and the official unveiling ceremony. His presence added prestige to the event and affirmed the company’s continued commitment to celebrating excellence within the golfing community.
The inaugural Adron Cup Golf Tournament marks the beginning of what promises to be a premier sporting event in the region, reflecting Adron Group’s commitment not only to excellence in real estate but also to promoting recreation, community engagement, and healthy living through sport.
The event concluded with commendations for the organizers and enthusiastic feedback from participants, leaving a lasting impression on all who attended.
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Adron Homes Chairman Commends Oyo State’s Real Estate Reforms, Urges Policy Continuity
The Chairman and Chief Executive Officer of Adron Group, Aare Adetola Emmanuelking, KOF, has commended the Oyo State Government for its bold reforms in the real estate sector, describing the state as a land of “history, enterprise, and endless possibilities.”
Aare Adetola remarked while delivering a goodwill message titled “The Real Estate Called Oyo State” at the 2025 Oyo State Real Estate Conference, held in Ibadan.
The event, themed “Real Estate and Economic Development in Oyo State: Strategies for Success,” brought together top real estate developers, government officials, and investors to discuss strategies for improving housing delivery and driving economic growth in the state.
Organised by the Office of the Special Adviser to the Governor on Housing and Urban Development in collaboration with the Real Estate Developers Association of Nigeria (REDAN), the conference highlighted the need for policy stability, public-private partnerships, and innovation in real estate development.
In his address, the Speaker of the Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin, reaffirmed the government’s commitment to transparency and investor confidence through the digitalisation of land records (OYOGIS), improved urban planning, and major infrastructure upgrades across the state.
He also cited the passage of the Oyo State Land Control and Administration Bill, 2023, and the establishment of the Anti-Land Grabbing Task Force as key reforms curbing land disputes and promoting sustainable property ownership. Ogundoyin praised major developers such as Adron Homes and MKH Properties for their role in boosting investor trust in the Oyo property market.
In his goodwill message, Aare Adetola Emmanuelking applauded the administration of Governor Seyi Makinde, FNSE, for maintaining consistency in land policies and governance structures, which he said had continued to attract serious investors to Oyo State.
He recalled that Adron Homes made its foray into Ibadan nearly a decade ago based on the state’s stable policy environment, a decision that has since yielded impressive results. He, however, urged the state government and future administrations to ensure policy continuity, warning that inconsistency could derail the progress already achieved.
The conference ended with a collective resolve by stakeholders to deepen collaboration between the public and private sectors, strengthen regulatory transparency, and create a business environment that will make Oyo State a model for real estate investment in Nigeria.
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