Dangote Cement Plc, Nigeria’s most capitalized quoted company and Africa’s largest cement producer, at the weekend stepped down from its much-publicised bid to acquire the share capital of PPC Limited-a South African leading cement firm.

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 the entire share capital of PPC Limited. It, however, noted that the acquisition talks were still at the preliminary stage and the transaction remained a potential one, contrary to reference to the talks in some quarters as ongoing.

Established in 1892 as De Eerste Cement Fabrieken Beperkt, PPC is a leading supplier of cement and related products in southern Africa. It has 11 cement factories in South Africa, Botswana, Democratic Republic of Congo, Ethiopia, Rwanda and Zimbabwe.

With annual capacity of 11.5 million tonnes of cement products, PPC’s materials business comprise Safika Cement, Pronto Readymix (including Ulula Ash) and 3Q Mahuma Concrete. Its footprint in the readymix sector has grown to include 26 batching plants across South Africa and Mozambique.

Also, PPC produces aggregates; with its Mooiplaas aggregates quarry in Gauteng, having the largest aggregate production capacity in South Africa. PPC Lime, one of the largest lime producers in the southern hemisphere, produces metallurgical-grade lime, burnt dolomite and limestone.

PPC is closely linked to the growth and development of South Africa as it has produced cement for many of the country’s most famous landmarks and construction projects.

Two global rating agencies, Moody’s Investors Service and Global Credit Ratings (GCR), recently rated Dangote Cement high for its financial strength and corporate outlook. In rating reports, both global rating agencies described the outlook of the Africa’s largest cement producer as stable.

Moody’s assigned three respective high ratings to the cement company, including a first time Ba3 Local Currency Corporate Family Rating (CFR), Ba3-PD Probability of Default Rating and Aaa.ng National Scale Rating (NSR).

Global Credit Ratings assigned long-term and short-term national scale issuer ratings of AA+ (NG) and A1+ (NG) respectively to Dangote Cement.

Assistant Vice President and Lead Analyst for Dangote Cement at Moody’s, Douglas Rowlings, said the ratings reflected Dangote Cement’s “strong standalone credit profile and track record of demonstrated financial support from a larger and more diversified parent, Dangote Industries Limited”.

Chief Executive Officer, Dangote Cement Plc, Onne van der Weijde, noted that the ratings highlight the financial strength the company had achieved through unwavering focus on the profitable expansion of its business.

https://www.financialwatchngr.com/2017/10/09/dangote-dumps-south-african-cement-firm-deal/

Mynd44, Lalasticlala, Seun

what is worrying him
let us take there company one by one

Ok

See 5 easy way to start Dangote Cement distribution below now.

http://www.jagabanking.com/how-you-can-become-a-dangote-cement-distributor-see-how-to-register-now-for-free/

They simply can't match the standards there

Nice

Ok

Why?

Cool... Bros abeg com 9ja com open ur refinery men need work seriously.

No room for naija style manipulation of stocks and monopoly

fidalgo19:
what is worrying him
let us take there company one by one

Lol

I will have to call the Chairman to confirm......my concern is better dividend

I need Bitcoin ohhh...Bring me all your bitcoin make i buy.


Contact on my Signature

Dango wan save him money to use am buy ASSenal

Die hard fans will come here to say it was lwobi's goal that made him change his mind, and want to focus on Arsenal.



Me:

He is tired of cement business. Arsenal fc get ready. South Africa is a xenophobic country so he's investment is not safe there. Baba Nla kuku ma step down.



Genius J

Why enrich those Xenophobes? Shoroniyen? Abeg abeg abeg go and buy Arsenal with that money. It'll be a much more fruitful venture.

Good, the risk is too much and south Africans are too violent

K.

mk he com invest in me

Hmm

b black

I am expecting dangote to buy the firm and also do what dstv are doing to Nigerians

Did you notice how all notable top executives of dangote are expatriates and very sound Nigerians?

No national quota system because he wants the best and to deliver the best. In the long run every of his staff from different diverse group benefits.

Why cant we treat our nation as our own very organization.

Decades after decades We keep hearing of the muritalas, the yar aduas, the sarakis, the dantata's, the tinubus, the atikus, the buharis, the obsanjos etc.

Greatness and glory keeps shifting from one generation of randoms to another, but Nigeria has failed to seek and harness that in random individuals, rather we stick with those whom it has left their family.

Petersamuel8:
I am expecting dangote to buy the firm and also do what dstv are doing to Nigerians

South African Government smart na

He knows what he's doing


Check my signature to order your football jerseys and get FREE CUSTOMIZATION, YES you heard me right FREE CUSTOMIZATION

Good one jecob Zuma for not giving him soft landing, Good one RSA for rejecting this scammer.. no Paddy paddy business in south... cement suppose to be the cheapest building material in Nigeria... how do he intends to survive when cement is sold for 10Rand less than 1500 naira.. this dangote is enjoying government monopoly at expense of suffering masses... imaging one mountain Ediot saying we should patronize dangote so he will retain the title of richest black man, cowardly , bill gate, Ortega ,zuckerberg etc does not build their empire with peoples sweat... remove monopoly dangote is nothing,

Just like Nigerians dey dumb DSTV for TSTV
Oh South Africa

Did anybody notice that dangote dumps the SA company because of kachikwu memo leak..I know he has a share in that 25b USD contract scam



No money again to buy shares

maximunimpact:
Dangote Cement Plc, Nigeria’s most capitalized quoted company and Africa’s largest cement producer, at the weekend stepped down from its much-publicised bid to acquire the share capital of PPC Limited-a South African leading cement firm.

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 the entire share capital of PPC Limited. It, however, noted that the acquisition talks were still at the preliminary stage and the transaction remained a potential one, contrary to reference to the talks in some quarters as ongoing.

Established in 1892 as De Eerste Cement Fabrieken Beperkt, PPC is a leading supplier of cement and related products in southern Africa. It has 11 cement factories in South Africa, Botswana, Democratic Republic of Congo, Ethiopia, Rwanda and Zimbabwe.

With annual capacity of 11.5 million tonnes of cement products, PPC’s materials business comprise Safika Cement, Pronto Readymix (including Ulula Ash) and 3Q Mahuma Concrete. Its footprint in the readymix sector has grown to include 26 batching plants across South Africa and Mozambique.

Also, PPC produces aggregates; with its Mooiplaas aggregates quarry in Gauteng, having the largest aggregate production capacity in South Africa. PPC Lime, one of the largest lime producers in the southern hemisphere, produces metallurgical-grade lime, burnt dolomite and limestone.

PPC is closely linked to the growth and development of South Africa as it has produced cement for many of the country’s most famous landmarks and construction projects.

Two global rating agencies, Moody’s Investors Service and Global Credit Ratings (GCR), recently rated Dangote Cement high for its financial strength and corporate outlook. In rating reports, both global rating agencies described the outlook of the Africa’s largest cement producer as stable.

Moody’s assigned three respective high ratings to the cement company, including a first time Ba3 Local Currency Corporate Family Rating (CFR), Ba3-PD Probability of Default Rating and Aaa.ng National Scale Rating (NSR).

Global Credit Ratings assigned long-term and short-term national scale issuer ratings of AA+ (NG) and A1+ (NG) respectively to Dangote Cement.

Assistant Vice President and Lead Analyst for Dangote Cement at Moody’s, Douglas Rowlings, said the ratings reflected Dangote Cement’s “strong standalone credit profile and track record of demonstrated financial support from a larger and more diversified parent, Dangote Industries Limited”.

Chief Executive Officer, Dangote Cement Plc, Onne van der Weijde, noted that the ratings highlight the financial strength the company had achieved through unwavering focus on the profitable expansion of its business.

https://www.financialwatchngr.com/2017/10/09/dangote-dumps-south-african-cement-firm-deal/

Mynd44, Lalasticlala, Seun

Monopoly??

When will Nigerians ask Dangote-Buhari why cement price sharply rose from N1300 to N2700 early this year, and never came down again since the Naira gained huge value against the Dollar?

There is no Economic Theory that supports the steep rise in price of cement, and the price remaining same since Naira regained strength.



Nigerians, ourmumudondo.

Esseite:
Did you notice how all notable top executives of dangote are expatriates and very sound Nigerians?

No national quota system because he wants the best and to deliver the best.

ur liying dangote staffs re 85 percent northerners,back to the matter dangote think say south africa na nigeria where goverment will ban cements of dangote competitors like obasanjo banned ibeto cement