BUA Group Acquires Majority Shareholding In PW Nigeria Limited

Leading Foods & Infrastructure Conglomerates, BUA Group, has disclosed its acquisition of majority shareholding in Nigeria’s largest construction, engineering and mining companies, PW Nigeria Limited. 

BUA disclosed this on Sunday in a statement while adding that the acquisition was important in the development of the company's stance in sub-Saharan Africa.

Commenting on the development, the Executive Chairman of BUA Group, Alhaji 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.

"We believe PW 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.”

Rabiu further added that with the rate at which West African countries including Nigeria in the coming years, give the company a desire to strategically position itself to support critical investments and government’s effort and unlock latent opportunities in the infrastructure development space.

He said PW Nigeria extends BUA’s investments, leadership, and capacity in the infrastructure space, stressing that projects are expected to benefit from tight integration of BUA’s cement business and PW Nigeria’s construction business.