PPC agrees to sell lime business for R515m
The deal comes as the cementmaker grapples with debt racked up in its push into Africa
National cementmaker PPC has agreed to sell its non-core lime business for R515m in a transaction that will ease the company’s debt burden and makes the prospects of a rights issue even less likely.
CEO Roland van Wijnen said PPC has considered selling the business for some time as it isn’t a natural fit for the company. ..