PPC: Zim unit to sell stake to locals

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Cement2 Independent Newspapers Picture: Simphiwe Mbokazi.

South African cement maker PPC said on Monday its Zimbabwe unit has transferred a majority stake to locals to comply with the government's laws on local black ownership.

The company said Portland Holdings Limited had an existing black shareholding of 21.4 percent and will sell an additional 29.6 percent to four local parties. - Reuters



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