PPC continues to study AfriSam proposal, South Africa

PPC said that its board is continuing to consider the indicative non-binding proposal from AfriSam Group for a merger between the two South African cement producers.

The company said it would make a further announcement in due course once its board had concluded the consideration process.

“Shareholders are hereby  advised that the Board is continuing to consider the indicative proposal and PPC  will make a further announcement in due course once it has concluded its consideration process,” a statement on 10 March 2015 read.

Bheki Sibiya, PPC chairman, told Business Report in January that the two cement producers were likely to approach the Competition Commission for an indication of the likelihood of a proposed merger being approved before exploring in detail the possibility of concluding a transaction.