Cement |

CRH Is Said Among Firms Mulling Bid for South Africa’s PPC

LAGOS (Capital Markets in Africa) – CRH Plc is among companies considering a counter bid for PPC Limited that could trump an offer by Canada’s Fairfax Financial Holdings Ltd., according to people familiar with the matter, adding a potential new twist to the battle for South Africa’s largest cement maker. The Irish building-materials supplier has held early deliberations about pursuing an acquisition of the Johannesburg-based company, said the people, who asked not to be identified as the plans aren’t public….

PPC Investor Says Fairfax Offer Should Be More Than 43% Higher

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – PPC Limited is worth at least 43 percent more than what Canada’s Fairfax Financial Holdings Ltd. has offered for the share component of its bid, according to the holder of about 5 percent of stock in South Africa’s biggest cement maker. Value Capital Partners is among PPC investors who oppose the Fairfax bid for 2 billion rand ($145 million) worth of shares at 5.75 rand each, the Johannesburg-based money manager said in…

PPC Extends Battle for African Cement Maker by Ordering Review

Posted on by The Editorial Team

JOHANNESBUG (Capital Markets in Africa) – PPC Limited hired Investec Plc to review an offer by Fairfax Financial Holdings Ltd. for South Africa’s biggest cement maker and said other interested bidders should be granted enough time to conduct full due diligence. Investec has been appointed to consider the partial offer by Toronto-based Fairfax and the planned merger between PPC with local rival AfriSam Group Pty Ltd. that’s part of the proposal, Johannesburg-based PPC said in a statement Tuesday….

PPC’s Biggest Shareholder Is Said to Back Fairfax-AfriSam Offer

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – PPC Ltd.’s largest shareholder is supporting a joint offer for South Africa’s biggest cement maker from domestic rival AfriSam Group Pty Ltd. and Canadian insurer Fairfax Financial Holdings Ltd. as the tie-up would create a national champion, according to people familiar with the matter. The Public Investment Corp., Africa’s biggest money manager, sees the three-way deal as a way for an enlarged cement maker to expand more effectively on the continent,…