PPC to sell Botswana aggregate quarry business

PPC to sell Botswana aggregate quarry business
11 June 2021

South Africa-based PPC has entered into a binding sale and purchase agreement to sell its 100 per cent shareholding in PPC Aggregate Quarries Botswana Proprietary Ltd for a cash purchase consideration of BWP47.5m (US$4.49m). The purchaser is a construction and mining company in Botswana, with conditions for the agreement expected to be met by 1 August 2021.

PPC also anticipates group EBITDA for continuing operations to increase by between 14-18 per cent YoY in the full-year ended 31 March 2021. The increase is notwithstanding the group incurring significant restructuring costs in the current financial year and a full lockdown in April 2020 due to the pandemic.

PPC’s full financial statement for the year ended 31 March 2021 is expected to be released on or around 21 June 2021.

Published under Cement News