BUA Group, on Sunday, said it has acquired a majority stake in construction, engineering and mining giant- P.W. Nigeria Limited, in what it said is necessary to further deepen its investments in the infrastructure business in sub-Saharan Africa.
A statement by the group quoted Abdul Samad Rabiu, Executive Chairman of BUA Group as describing the deal marks “provides a prime opportunity to increase our investments in the entire value chain of the cement, mining, and construction industry where we already have BUA Cement Plc, the second-largest cement company in Nigeria, as well as investments in other areas including mining, quarrying, construction, power, and logistics amongst others.
“We believe P.W. Nigeria Limited with its solid experience in building dams, roads, airports, water projects and other infrastructure projects in Nigeria provided a strong value proposition too difficult to ignore,” he added.
The acquisition, he continued, became imperative for BUA to position itself strategically to support critical investments and government effort and unlock latent opportunities in the infrastructure development space, as Nigeria and most of West Africa look to improve infrastructural development in the coming years.
“The acquisition of P.W. Nigeria extends BUA’s investments, leadership and capacity in the infrastructure space and projects are expected to benefit from tight integration of BUA’s cement business and PW Nigeria’s construction business.
Originally founded in 1948 in Ireland, and later began operations in Nigeria in 1974, P.W. Nigeria Limited has over 45 years of experience working in Nigeria, and throughout the West Africa region, boasting of an extensive modern fleet of construction equipment and a team of highly trained and professional staff.