27 June 2019

The $1.1billion merger between the Cement Company of Northern Nigeria
and BUA Group’s Kalambaina Cement has been awarded the Best M&A Deal in
Africa by the EMEA Finance Achievement Award held in London recently. 

The award was received by a director of CCNN who is also the Group Chief
Operating Officer of BUA Group, Chimaobi Madukwe.

Speaking at the 11th annual Award, Madukwe expressed gratitude to EMEA
Finance for the award and described it as a global nod to the expansion vision
of BUA Group.

Madukwe then reiterated BUA’s commitment to ensure high capacity
utilization, efficiency and better quality of its products with the 2 million
metric tonnes per annual plants capacity. 

According to Madukwe, “As a brand, this is a very big achievement for
BUA. And we thank EMEA Finance for the award. The award is highly competitive,
and for BUA Group’s investment and achievement in the cement sector to be
recognized in this manner, it gives the management of CCNN and BUA a satisfaction
that our strategy to expand beyond the shores of Africa is realizable”. 

The capital market regulators had in January 2019 approved the merger of
the 500,000mtpa CCNN and 1.5mmtpa Kalambaina Cement. The merger described as
the biggest in 2018 further reaffirmed CCNN as the market leader in the North
West regional market with huge export opportunity to countries like Niger and
Burkina Faso.

EMEA Finance is a leading bimonthly global industry publication that reports on the major financial events and happenings initiated and influenced by the international financial industry active in Europe, Middle East, and Africa.,-BUA-Cement-wins-EMEA-Finance-Award/45850

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