Dangote pull out of potential PPC acqusition deal

Dangote Cement Plc, pulled out of its bid to acquire the share capital of PPC Ltd.

In a regulatory filing at the weekend, Dangote Cement board of directors stated that it has notified PPC board of directors that it no longer has an interest in acquiring the South African firm’s share capital.

Dangote Cement had last month confirmed that it had initiated a bid to acquire PPC Lt. It, however, noted that the acquisition talks were still at the preliminary stage and the transaction remained a potential one.

PP's shareholders are still considering a potential merger with AfriSam.