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Court Rejects Lafarge’s Bid to Stop Suit Over Planned Sale to Chinese Firm

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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 Group Chairman Pays Glowing Tribute to Ogun First Lady at 60

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Adron Group Chairman Pays Glowing Tribute to Ogun First Lady at 60

The Chairman/GCEO of Adron Group, Aare Adetola Emmanuelking, KOF, has joined eminent Nigerians in celebrating the First Lady of Ogun State, Her Excellency, Mrs. Bamidele Abiodun, on the occasion of her 60th birthday, describing her as “an icon of courage, compassion and charisma whose life continues to inspire hope, uplift humanity and exemplify purposeful public service.”

In a goodwill message jointly signed by Aare Emmanuelking and his wife, Olori Aderonke Emmanuelking, the Adron Homes boss paid glowing tribute to the First Lady’s enduring legacy, noting that her six decades have been defined by commitment to humanity, exemplary leadership, and a remarkable ability to positively impact lives through humility, kindness, and compassion.

He described Her Excellency’s Diamond Jubilee as a fitting celebration of a woman whose life reflects the timeless qualities of the precious gemstone it represents, resilient, refined, enduring, and radiant through every season.

Aare Adetola Emmanuelking also acknowledged the First Lady’s steadfast support for the developmental aspirations of Ogun State, particularly her commitment to initiatives that have positively impacted women, children, and other vulnerable members of society. He described her contributions to public service and human development as enduring and worthy of national recognition.

He prayed that Almighty God would continue to bless Her Excellency with excellent health, renewed strength, abiding peace, and many more years of purposeful living, while granting her greater opportunities to continue touching lives and advancing the cause of humanity.

He wished the First Lady a joyous 60th birthday and a new decade filled with greater accomplishments, divine favour, and enduring fulfilment.

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Adron Group Chairman Hails Dapo Abiodun’s Leadership at 66

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Adron Group Chairman Hails Dapo Abiodun’s Leadership at 66

The Chairman/Chief Executive Officer of Adron Group, Aare Adetola Emmanuel King, has extended his warm congratulations to the Executive Governor of Ogun State, His Excellency Prince Dapo Abiodun, CON, on the occasion of his 66th birthday.

In a goodwill message issued to commemorate the occasion, Aare EmmanuelKing described Governor Dapo Abiodun as a visionary leader, accomplished administrator, and distinguished statesman whose purposeful and people-oriented leadership continues to foster remarkable transformation, progressive governance, and sustainable development across Ogun State.

He noted that Governor Abiodun’s steadfast commitment to infrastructural development, economic advancement, youth empowerment, and the overall welfare of the citizenry has significantly positioned Ogun State as a foremost destination for investment, innovation, and socio-economic progress in Nigeria.

“On behalf of my family, the management, and staff of Adron Group, I sincerely felicitate with Your Excellency, Prince Dapo Abiodun, CON, on the occasion of your 66th birthday. Your exemplary leadership, humility, and unwavering dedication to public service remain highly commendable and inspiring. Ogun State has continued to experience substantial growth and development under your administration, while your contributions to governance and human capital development are truly noteworthy,” Aare EmmanuelKing stated.

He further offered prayers for God’s continued grace, wisdom, strength, and good health for the Governor as he continues to render selfless service to Ogun State and the nation at large.

Aare EmmanuelKing also wished Governor Abiodun many more years of impactful leadership, peace, and fulfillment in service to humanity.

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Adron Homes Felicitates Muslims on Eid Celebration

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Adron Homes Felicitates Muslims on Eid Celebration

Adron Homes & Properties has congratulated Muslim faithful across Nigeria and around the world on the occasion of Eid, urging them to continue embracing the virtues of peace, sacrifice, love, and unity that the season symbolizes.

In a statement issued by the management of Adron Homes & Properties, the company described Eid as a sacred period that promotes spiritual renewal, compassion, gratitude, and harmonious coexistence among people irrespective of tribe, religion, or social status.

The foremost real estate company noted that the values of selflessness, obedience, and generosity demonstrated during the holy season remain essential ingredients for national growth and societal development.

According to the statement, Nigerians should use the festive period as an opportunity to strengthen bonds of brotherhood, extend love to the less privileged, and pray for enduring peace and economic prosperity in the country.

Adron Homes further reaffirmed its commitment to providing affordable luxury homes and building sustainable communities that promote comfort, security, and family values for Nigerians at home and abroad.

The company prayed for divine blessings, joy, and fulfillment for all Muslim faithful celebrating Eid and wished them a peaceful and memorable celebration.

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