Business

Dangote Cement withdraws from South African acquisition

Dangote Cement shareholders to split N145bn

Africa’s largest cement company and Nigerian multinational, Dangote Cement has withdrawn its bid to acquire the entire share capital of PPC Limited, South Africa’s leading cement firm.

In a statement signed by Dangote Cement’s company secretary, Mahmud Kazaure, the company stated that the Aliko Dangote-led board of directors of Dangote Cement has communicated its withdrawal of interest to acquire the entire share capital of PPC to the board of directors of the South Africa’s firm.

Established in 1892 as De Eerste Cement Fabrieken Beperkt, PPC is a leading supplier of cement and related products in southern Africa. It has 11 cement factories in South Africa, Botswana, Democratic Republic of Congo, Ethiopia, Rwanda and Zimbabwe.

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With annual capacity of 11.5 million tonnes of cement products, PPC’s materials business comprises of Safika Cement, Pronto Readymix (including Ulula Ash) and 3Q Mahuma Concrete. Its footprint in the readymix sector has grown to include 26 batching plants across South Africa and Mozambique.

Also, PPC produces aggregates; with its Mooiplaas aggregates quarry in Gauteng having the largest aggregate production capacity in South Africa. PPC Lime, one of the largest lime producers in the southern hemisphere, produces metallurgical-grade lime, burnt dolomite and limestone.

PPC is closely linked to the growth and development of South Africa as it has produced cement for many of the country’s most famous landmarks and construction projects.

 

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