LafargeHolcim makes expression of interest in PPC
PPC, South Africa’s largest cement producer, and which has operations in six countries in Africa, has received an expression of interest from LafargeHolcim.
According to PPC, LafargeHolcim was expected to submit an offer in November for a deal that includes a partial cash offer, as well as a special dividend to PPC shareholders.
Peter Nelson (pictured), chairman of PPC, said in a statement:
"Regardless of the outcome of the concurrent processes now underway, we believe that PPC is a solid business in its own right."
Several parties looking to expand in the region have previously expressed interest in PPC's assets, among them AfriSam and Dangote Cement.
PPC has said that until it receives a formal and firmer offer from LafargeHolcim, it won't say much more on the matter.