BUA Group acquires majority holding in P.W Nigeria Limited
BUA Group has acquired majority shareholding in P.W. Nigeria limited, one of largest construction, engineering and mining companies.
Abdul Samad Rabiu, Executive Chairman of BUA Group said in a statement on that the acquisition was necessary to further deepen its investments in the infrastructure business in sub-Saharan Africa.
Rabiu said the acquisition marks the beginning of the next phase of BUA group medium term strategy for infrastructure business.
This comes following the completion of the consolidation of our cement arm, BUA Cement, in January 2020.
He added that BUA’s acquisition of majority holdings in P.W. Nigeria Ltd 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.
Read Also: Zenith Bank: Equity analysts upgrade estimates as lender’s earnings arouse sentiment
“We believe P.W. Nigeria Ltd 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 said.
Rabiu said it became imperative for BUA to position itself strategically to support critical investments and government effort and unlock latent opportunities in the infrastructure development space.
He noted that the acquisition of P.W. Nigeria extends BUA’s investments, leadership and capacity in the infrastructure space and projects were expected to benefit from a tight integration of BUA’s cement business and PW Nigeria’s construction business.
P.W. Nigeria Ltd., originally founded in 1948 in Ireland, later began operations in Nigeria in 1974.
It has over 45 years of experience working in Nigeria, and throughout the West Africa region.
The company has an extensive modern fleet of construction equipment and a team of highly trained and professional staff.
BUA Group acquires majority holding in P.W Nigeria Limited
