Dan­gote of­fers to buy PPC

Cape Argus - - BUSINESS -

NIGE­RIA’S Dan­gote Ce­ment, con­trolled by Aliko Dan­gote, Africa’s rich­est per­son, has ap­proached South African ri­val PPC about a takeover.

PPC is al­ready con­sid­er­ing a bid by lo­cal ri­val AfriSam, which launched a new all-share merger pro­posal that val­ues South Africa’s largest ce­ment-maker at about R9.2 bil­lion.

PPC has a third of­fer from an un­named bid­der.

“DCP (Dan­gote Ce­ment plc) hereby con­firms that the board of di­rec­tors of DCP has merely com­mu­ni­cated its in­ter­est to the board of di­rec­tors of PPC with re­spect to the ac­qui­si­tion of the en­tire share cap­i­tal of PPC,” the com­pany said in a state­ment. – Reuters

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