Cement Company of Northern Nigeria Plc (CCNN) recently emerged winner of the “Best M&A Deal in Africa” at the EMEA award for its $1.1bn merger with BUA Group’s Kalambaina Cement at Finance Achievement Award held in London.
Receiving the award, Chimaob Madukwe, a director of CCNN who is also Group Chief Operating Officer of BUA Group, expressed gratitude to EMEA Finance for the award, describing it as a global nod to the expansion programme of the group. Madukwe then reiterated BUA’s commitment to ensuring high capacity utilization, efficiency, and better quality products with the investments in cement manufacturing in Africa.
According to him, “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 December 2018 approved the merger of the 500,000mtpa CCNN and 1.5mmtpa Kalambaina Cement. The merger described as the biggest in 2018 further reaffirmed CCNN’spositionas the market leader in the North West regional market with a huge export opportunity to countries like Niger and Burkina Faso. Stanbic IBTC acted as financial adviser to CCNN for the transaction.
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, the Middle East, and Africa.
Photo caption: From left to right: Christopher Moore, Publisher & CEO, EMEA Finance; Tayo Adewale, Vice President, Equity Capital Markets, Stanbic IBTC; Chimaobi Madukwe,Group Chief Operating Officer (GCOO), BUA Group; Ejike Mellisa, Corporate Finance Manager, BUA Group; and Sola Carrena, Executive Director and Head of Corporate Finance, Stanbic IBTC Capital Limited at the 11the annual EMEA Finance awards in London where CCNN/BUA Kalambaina Cement merger won best M&A Deal in Africa.
