PPC: Approval granted for 69% Safika purchase

Comment on this story

PPC’s acquisition of a 69.3 percent stake in Safika Cement Holdings for R377 million had been unconditionally approved by the Competition Tribunal, the listed cement and lime producer reported on Friday. The company said the transaction, which was announced in August, further enhanced PPC’s South African footprint through Safika’s five blending facilities and one milling operation that produce blended 32.5N cement under three brands: IDM Best Build, Castle and the Spar Build-It house brand. Safika produces more than 20 million bags of cement a year. Ketso Gordhan, PPC’s chief executive, said the value-adding Safika transaction would ensure that PPC’s strategy gained further impetus. The company’s strategy is to expand its revenue from the rest of Africa to 40 percent by 2016 from about 21 percent now while recognising that it must maintain its edge in the southern African region. PPC shares fell 1.52 percent to close at R31.01 on Friday. - Business Report

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.


Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks