- BUA Takes Charge of P.W. Nigeria, Acquires Majority Stakes
In a move to further deepen investments in the infrastructure business in sub-Saharan Africa, BUA Group, one of the continent’s largest infrastructure companies, announced it has acquired majority stakes in Irish-Nigerian firm, P.W. Nigeria Limited.
In a statement released on Sunday, the Executive Chairman, BUA Group, Abdul Samad Rabiu, said: “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. 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. 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.”
Rabiu added that, as Nigeria and the rest of West Africa look to expand infrastructural development, it became necessary for BUA to position itself strategically to support critical investments and government effort at developing the region as a whole.
P.W. Nigeria Limited, one of the largest construction, engineering and mining companies in Nigeria, acquisition would better position BUA in the infrastructure development space, solidify its leadership position and capacity as the company plans to integrate BUA’s cement business and PW Nigeria’s construction business to improve its leadership position.
PW Nigeria Limited was founded in Ireland in 1948 and later commenced business operations in Nigeria and throughout the West Africa region.
“P.W. Nigeria Ltd. has an extensive modern fleet of construction equipment and a team of highly trained and professional staff. It is highly committed to the continued development of Nigeria. We boast a diverse portfolio comprising mining, earthmoving, roads and bridges, airport runways, infrastructure development, water supply & sewage. These projects have not only helped grow local economies but also improved the quality of life for the communities and people in the region. We have an unmatched combination of knowledge, skill, experience and customer commitment coupled with sound financial backing which elevates us as your number one partner in Nigeria and West Africa,” the statement reads.
Founded in 1988 by Abdul Samad Rabio, BUA Group 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.