South Africa's PPC sees higher offer from Fairfax

Helios Fairfax Partners

15/09/2017 14:04

JOHANNESBURG, Sept 15 (Reuters) - South Africa's biggest 
cement producer PPC  PPCJ.J  said on Friday it expected Canada's 
Fairfax Africa Investments to raise its takeover offer that 
valued the firm at about 9.2 billion rand ($700 million). 
    The all-share offer from Fairfax and AfriSam  AFRSMV.UL  on 
Sept. 4 valued PPC shares at 5.75 rand but expectations of 
higher bid, either from Fairfax or others such as Nigeria's 
Dangote Cement  DANGCEM.LG , have kept them above that level. 
 urn:newsml:reuters.com:*:nL8N1LM4LO  urn:newsml:reuters.com:*:nL5N1LV2J2 
   ($1 = 13.1363 rand) 
 
 (Reporting by Nqobile Dludla; editing by David Clarke) 
 ((nqobile.dludla@thomsonreuters.com; +27117753126; Reuters 
Messaging: nqobile.dludla.thomsonreuters.com@reuters.net)) 
 
Keywords: PPC M&A/AFRISAM FAIRFAX AFRICA