South Africa's PPC says Fairfax makes partial offer of $154 mln

Helios Fairfax Partners

04/09/2017 13:47

JOHANNESBURG, Sept 4 (Reuters) - South Africa's cement maker 
PPC  PPCJ.J  said on Monday a regional unit of Fairfax Africa 
Investments  FAHu.TO  will make a partial offer to buy its 
shares for 2 billion rand ($154 million), subject to PPC 
shareholders agreeing to a tie-up with its nearest unlisted 
rival Afrisam.  
    In August, PPC said AfriSam intends to make a new proposal 
on a merger of the two South African cement makers after AfriSam 
terminated its current plan.  urn:newsml:reuters.com:*:nL8N1LB2O8   
    Shares in PPC rose 3.67 percent to 5.65 rand at 1234 GMT.   
 
($1 = 12.9458 rand) 
 
 (Reporting by Nqobile Dludla) 
 ((nqobile.dludla@thomsonreuters.com; +27117753126; Reuters 
Messaging: nqobile.dludla.thomsonreuters.com@reuters.net)) 
 
Keywords: PPC M&A/AFRISAM