Aliko Dangote, the President of Africa’s largest conglomerate Dangote Group, has confirmed his interest in acquiring PPC, the largest cement making company in South Africa. He made his intentions known via a company notification to the Nigerian Stock Exchange (NSE).
The Dangote Group on Wednesday confirmed that it plans to acquire the entire share capital of PPC Limited-South Africa’s leading cement firm.
In the notification to the NSE, the board of directors of Dangote Cement disclosed it had communicated its interest to acquire the entire share capital of PPC to the board of directors of the South Africa’s firm.
However, the Dangote Cement explained that the acquisition talks are still at the preliminary stage and the transaction remains a potential transaction.
“Further details will be published subsequently, as appropriate,” Dangote Cement stated.