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Nairaland Forum / Nairaland / General / Business / Dangote Dumps South African Cement Firm Deal (16012 Views)
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Dangote Dumps South African Cement Firm Deal by maximunimpact(m): 12:21am On Oct 09, 2017 |
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 |
Re: Dangote Dumps South African Cement Firm Deal by Nobody: 12:27am On Oct 09, 2017 |
what is worrying him let us take there company one by one 1 Like |
Re: Dangote Dumps South African Cement Firm Deal by KnowMore: 7:21am On Oct 09, 2017 |
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/ |
Re: Dangote Dumps South African Cement Firm Deal by nony43(m): 7:21am On Oct 09, 2017 |
They simply can't match the standards there 17 Likes 1 Share |
Re: Dangote Dumps South African Cement Firm Deal by DanielsParker(m): 7:21am On Oct 09, 2017 |
Nice |
Re: Dangote Dumps South African Cement Firm Deal by Nobody: 7:22am On Oct 09, 2017 |
Ok |
Re: Dangote Dumps South African Cement Firm Deal by Phenotech(m): 7:22am On Oct 09, 2017 |
Why? |
Re: Dangote Dumps South African Cement Firm Deal by InwehAkpevwe(m): 7:22am On Oct 09, 2017 |
Cool... Bros abeg com 9ja com open ur refinery men need work seriously. 18 Likes 1 Share |
Re: Dangote Dumps South African Cement Firm Deal by cescky(m): 7:22am On Oct 09, 2017 |
No room for naija style manipulation of stocks and monopoly 22 Likes |
Re: Dangote Dumps South African Cement Firm Deal by iamchybs(m): 7:22am On Oct 09, 2017 |
fidalgo19: Lol |
Re: Dangote Dumps South African Cement Firm Deal by Discharge(m): 7:22am On Oct 09, 2017 |
I will have to call the Chairman to confirm......my concern is better dividend |
Re: Dangote Dumps South African Cement Firm Deal by justi4jesu(f): 7:22am On Oct 09, 2017 |
I need Bitcoin ohhh...Bring me all your bitcoin make i buy. Contact on my Signature |
Re: Dangote Dumps South African Cement Firm Deal by Feranchek(m): 7:22am On Oct 09, 2017 |
Dango wan save him money to use am buy ASSenal |
Re: Dangote Dumps South African Cement Firm Deal by emeijeh(m): 7:23am On Oct 09, 2017 |
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: 15 Likes
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Re: Dangote Dumps South African Cement Firm Deal by Jerryojozy(m): 7:23am On Oct 09, 2017 |
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 2 Likes |
Re: Dangote Dumps South African Cement Firm Deal by PiccoloBrunelli(m): 7:24am On Oct 09, 2017 |
Why enrich those Xenophobes? Shoroniyen? Abeg abeg abeg go and buy Arsenal with that money. It'll be a much more fruitful venture. |
Re: Dangote Dumps South African Cement Firm Deal by Tolexandre: 7:25am On Oct 09, 2017 |
Good, the risk is too much and south Africans are too violent 6 Likes |
Re: Dangote Dumps South African Cement Firm Deal by Ayo4251(m): 7:25am On Oct 09, 2017 |
K. |
Re: Dangote Dumps South African Cement Firm Deal by MrGreenMavro: 7:25am On Oct 09, 2017 |
mk he com invest in me |
Re: Dangote Dumps South African Cement Firm Deal by kay29000(m): 7:26am On Oct 09, 2017 |
Hmm |
Re: Dangote Dumps South African Cement Firm Deal by bewla(m): 7:27am On Oct 09, 2017 |
b black |
Re: Dangote Dumps South African Cement Firm Deal by Petersamuel8(m): 7:27am On Oct 09, 2017 |
I am expecting dangote to buy the firm and also do what dstv are doing to Nigerians 9 Likes |
Re: Dangote Dumps South African Cement Firm Deal by Nobody: 7:28am On Oct 09, 2017 |
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. 11 Likes 1 Share |
Re: Dangote Dumps South African Cement Firm Deal by KingTom(m): 7:28am On Oct 09, 2017 |
Petersamuel8:South African Government smart na |
Re: Dangote Dumps South African Cement Firm Deal by wildchild1: 7:30am On Oct 09, 2017 |
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 |
Re: Dangote Dumps South African Cement Firm Deal by Bullhari007(m): 7:30am On Oct 09, 2017 |
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, 7 Likes 1 Share |
Re: Dangote Dumps South African Cement Firm Deal by MuyiRano(m): 7:35am On Oct 09, 2017 |
Just like Nigerians dey dumb DSTV for TSTV Oh South Africa |
Re: Dangote Dumps South African Cement Firm Deal by IgboticGirl(f): 7:37am On Oct 09, 2017 |
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 |
Re: Dangote Dumps South African Cement Firm Deal by discusant: 7:38am On Oct 09, 2017 |
maximunimpact: 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. 2 Likes |
Re: Dangote Dumps South African Cement Firm Deal by HottestFire: 7:38am On Oct 09, 2017 |
I hailed his decision to invest in such at the begining but as a business man, he is entitled to make shrewd investment plan. I hope his decision to abandon was not hinged on equal opportunity and a competitive environment with marginal profit.. 3 Likes |
Re: Dangote Dumps South African Cement Firm Deal by nnokwa042(m): 7:42am On Oct 09, 2017 |
Esseite: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 4 Likes |
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