Dangote bid is now official

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 allshare 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 firm said. – Reuters