Africa’s richest man’s Dangote seeks tie up with cement producer PPC

PUBLISHED: Thu, 14 Sep 2017 12:55:50 GMT

JOHANNESBURG, Sept 14 (Reuters) – Nigeria’s Dangote Cement has approached South African cement producer PPC about a tie-up, but talks are at the preliminary stage, it said.

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READ: Inside billionaire Aliko Dangote’s $12bn Dangote Oil Refinery

PPC is already considering a bid by local rival AfriSam, which launched a new all-share bid that values PPC at about 9.2 billion rand ($700.47 million) ($1 = 13.1340 rand) (Reporting by Nqobile Dludla; Editing by Tiisetso Motsoeneng)