Dangote Considering Bid for South Africa’s Largest Cement Maker

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Aliko Dangote, Africa’s richest man and the President of the continent’s largest cement maker Dangote Cement, is reportedly mulling over counter-offers for PPC Group Ltd., which could signal a bidding contest for South Africa’s largest cement maker, according to people familiar with the matter.

A bid for the Johannesburg-based company by Dangote is perceived as a means of speeding up expansion plans beyond the shores of the cement maker’s home market of Nigeria, said the people, who asked not to be named as the matter is private.

“PPC will consider any rival offers to the joint approach by Canada’s Fairfax Financial Holdings Ltd. and domestic rival AfriSam Group Pty Ltd. and present them to shareholders in early October, one of the people said,” a report by ThisDay read.

The future ownership of PPC is up for grabs after merger talks with AfriSam failed for a second time last month following two-and-a-half years of on-off negotiations.

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