Fairfax stops bid for PPC

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South Africa: Canada’s Fairfax Holdings has stopped its bid for PPC. The investment body made an offer of around US$150m in September 2017 to buy a partial stake in PPC on condition that the cement producer agreed to a merger with AfriSam. The South African cement producer subsequently described the offer as low to its shareholders and said that is was anticipating a higher offer. Rival expressions of interest were also received from CRH, Dangote Cement and LafargeHolcim. Dangote Cement withdrew its bid in October 2017 and CRH decided not to continue its bid in December 2017.

Last modified on 13 December 2017

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