DANGOTE CEMENT |

Dangote Is Said to Express Interest in Kenyan Cement Firm ARM

MAPUTO (Capital Markets in Africa) – Dangote Cement Plc, Africa’s biggest producer of the building material, expressed an interest in acquiring Kenyan rival ARM Cement Ltd., according to three people familiar with the matter. ARM has been exploring a sale since at least October 2017. The company, part-owned by CDC Group Plc, was placed in administration in August after failing to find a strategic investor to help it manage debts of 14.4 billion shillings ($141 million). Aliko Dangote,…

Dangote Cement Profit Jumps on Lower Fuel Costs in Nigeria

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LAGOS (Capital Markets in Africa) – Dangote Cement Plc said nine-month profit surged 45 percent as Africa’s largest producer of the building material lowered fuel costs in its home market of Nigeria. Net income rose to 193 billion naira ($537 million) from 134 billion naira a year earlier, the Lagos-based company said in a statement on Thursday. Revenue increased 37 percent to 604 billion naira. Dangote Cement, controlled by Africa’s richest man Aliko Dangote, is cutting costs and…

Aliko Dangote Ups Bidding War for PPC With Cash, Share Offer

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LAGOS (Capital Markets in Africa) – Dangote Cement Plc, the Nigerian company controlled by Africa’s richest person, has written to PPC Ltd. offering South Africa’s biggest cement maker cash and shares as part of a takeover deal that is fuelling a bidding war. “We are waiting for them to get back to us, hopefully early next week,” Aliko Dangote said in an interview with Bloomberg TV in New York. “They can be part and parcel…

Dangote Cement Approaches South Africa’s PPC About Takeover

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LAGOS (Capital Markets in Africa) – Dangote Cement Plc has approached PPC Ltd. about a takeover deal, signalling the start of a possible bidding war for South Africa’s biggest cement maker after an earlier offer led by Canada’s Fairfax Financial Holdings Ltd. Dangote has told PPC’s board that it’s interested in buying “the entire share capital,” the Lagos-based company said late Wednesday in a statement to the Nigerian Stock Exchange. “This communication is still at the preliminary…

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

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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,…

Dangote Cement Profit Jumps as Higher Prices Lift Revenue

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LAGOS (Capital Markets in Africa) – Dangote Cement Plc, Africa’s largest producer of the building material and Nigeria’s biggest company, said first-half profit surged as an increase in revenue offset lower volumes and operations in the rest of the continent helped bolster sales. Net income rose 35 percent to 143.5 billion naira ($447.7 million) in the six months through June, compared with 106 billion naira a year earlier, the Lagos-based company said in a statement…

Africa’s Richest Man Invests $4.6 Billion in Nigeria Farming

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LAGOS (Capital Markets in Africa) – Dangote Group, controlled by Africa’s richest man, Aliko Dangote, plans to invest $3.8 billion in sugar and rice and $800 million in dairy production in the next three years as the company seeks to expand and deal with a shortage of dollars in its home market of Nigeria. The conglomerate plans to increase its production of sugar to 1.5 million metric tons a year by 2020 from 100,000 tons now and is…

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