West China Cement Seeks Loan for Buyout of African Cement Firm

West China Cement Ltd. is in talks with Standard Chartered Plc for a $50 million to $60 million loan to finance its acquisition of a majority stake in Cimenterie de Lukala SA, the largest cement manufacturer in the Democratic Republic of Congo, according to people familiar with the matter.

• The loan could carry a tenor of five to seven years
• Details could change as discussions are ongoing
• West China Cement didn’t respond to a request for comment; Standard Chartered declined to comment
• NOTE: West China Cement conditionally agreed to acquire 91.02% of Cimenterie de Lukala, subject to customary closing ...