NIGERIA – BUA Group, a leading food, cement and infrastructure conglomerate, has announced its acquisition of majority shareholding in P.W. Nigeria Limited, one of the largest constructions, engineering and mining companies in Nigeria.
“This acquisition marks the beginning of the next phase of our medium-term strategy for our infrastructure business following the completion of the consolidation of our cement arm, BUA Cement, in January 2020,” founder and executive chairman of the group, Abdul Samad Rabiu, said.
“BUA’s acquisition of majority holdings in PW Nigeria Limited 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.”
Rabiu expressed the belief that P.W. Nigeria Ltd provided a strong value proposition too difficult to ignore with its solid experience in building dams, roads, airports, water projects and other infrastructure projects in Nigeria.
He further disclosed that as Nigeria and most of West Africa looks to improve infrastructural development in coming years, it became quite necessary for BUA to position itself strategically to support critical investments and government effort and unlock untapped opportunities in the infrastructure development sector.
With the acquisition of P.W. Nigeria, the BUA Group will extend its 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.
BUA Group was established in 1988 by founder and industrialist, Abdul Samad Rabiu and has grown over the years to entrench its place as a leading player in the foods, mining, manufacturing and infrastructure space in Africa with major investments in cement, mining, real estate, steel, port operations, sugar and agribusiness.
With key operations spread across Nigeria and an international presence in London, BUA Group has firmly established a reputation as one of the largest contributors to Nigeria’s GDP. It’s key cement holding, BUA Cement, is the second largest producer of Cement in Nigeria and is listed on the Nigerian Stock Exchange.