Dangote walks away from PPC deal

Dangote walks away from PPC deal – causing PPC shares to plunge

Image: Clarion

7 OCTOBER 2017, 5:30PM / 

This IoL report by JOHN BOWKER

PPC shares plunged the most in more than two months after Dangote Cement walked away from a potential takeover of South Africa’s largest cement maker, leaving Canada’s Fairfax Financial Holdings Ltd. as the sole known bidder.

Dangote formally withdrew its interest on Thursday, PPC said in a statement. The Lagos, Nigeria based company indicated last month it was interested in a combination of two of Africa’s largest cement makers, but the approach never got beyond the exploratory stage.

PPC shares slumped as much as 12%, the most since July 24, before trading 5.7% lower at R6.08 as of 12:57 p.m. in Johannesburg.

Aliko Dangote

The withdrawal of the Nigerian company, controlled by Africa’s richest person, Aliko Dangote, is a blow for investors anticipating a bidding war that would have bumped up PPC’s take- out price.

Toronto-based Fairfax has tabled a partial offer for R2 billion ($146 million) of PPC shares at R5.75 each on condition that the company merges with AfriSam Group Pty Ltd., a local rival.

PPC Chairman Peter Nelson said Thursday that more than 25% of shareholders opposed that proposal.


Emerging Contractors Networking Conference and Exhibition – 2017

Siya Mdlalose (MC), Darren Malay – PPC Marketing Assistant and Gerald Ndlovu – Black Suppliers Managing Director

Emerging Contractors Networking Conference and Exhibition – 2017

The partnership between PPC and Black Suppliers brought to the heart of Soweto the Emerging Contractors Networking Conference and Exhibition, which took place in July at Soweto Theatre in Jabulani.

The conference hosted business owners, community members and corporate sponsors. The keynote address was delivered by Executive Mayor, Herman Mashaba, who expounded the importance of the construction industry as being one of the key industries for job creation and emphasised the importance of the private sector in ensuring the success of this industry.

The main objective of the Emerging Contractors Conference was to assist entrepreneurs with information on how to improve their businesses; how to identify and pitch for new business opportunities; equip them with the right skills; improve existing skills; and to provide a networking platform between start-ups, big corporates and service providers.

In addition the conference focused driving transformation in the construction industry and the development of small, medium and micro-sized enterprise (SMME) contractors. The conference also offered emerging SMME contractors unprecedented opportunities to find out about new projects opening for tender; learn about the latest available materials and technologies; develop soft and hard skills


The Emerging Contractors Conference was a platform that Black Suppliers in partnership with the other sponsors and stakeholders have created to assist in opening doors for up-and-coming contractors, exposing them to current industry scenarios and to listen to what their challenges and struggles are so that solutions can be found.