Africa’s richest man, Aliko Dangote, is among those considering counteroffers for PPC Group Ltd. that could signal a bidding contest for South Africa’s largest cement maker, Bloomberg reported yesterday. Dangote Cement Plc sees a bid for the Johannesburgbased company as a way to accelerate expansion outside its home market of Nigeria, the news agency stated, citing people who asked not to be named as the matter is private.
PPC will consider any rival offers to the joint approach by Canada’s Fairfax Financial Holdings Limited and domestic rival AfriSam Group Pty Limited and present them to shareholders in early October, one of the people said. LafargeHolcim Ltd., the world’s biggest cement maker based in Jona, Switzerland, and Germany’s HeidelbergCement AG are also monitoring PPC’s situation, the people said.
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