|

South Africa's PPC sees higher offer from Fairfax

Ersin Çelik
16:33 - 15/09/2017 Friday
Update: 16:36 - 15/09/2017 Friday
REUTERS
File photo
File photo

South Africa's biggest cement producer PPC said on Friday it expected Canada's Fairfax Africa Investments to raise its takeover offer that valued the firm at about 9.2 billion rand ($700 million).

The all-share offer from Fairfax and AfriSam on Sept. 4 valued PPC shares at 5.75 rand but expectations of higher bid, either from Fairfax or others such as Nigeria's Dangote Cement, have kept them above that level.

#South Africa
#PPC
#Fairfax
7 years ago
default-profile-img