South Africa's AfriSam is reported to have cancelled proposed merger talks with PPC. The cement companies are said to have failed to reach consensus on the deal's terms. Following the decision, AfriSam will continue to implement its growth strategy while PPC will expand its footprint into other African countries.
South Africa's AfriSam is reported to have cancelled proposed merger talks with PPC.
The cement companies are said to have failed to reach consensus on the deal's terms.
Following the decision, AfriSam will continue to implement its growth strategy while PPC will expand its footprint into other African countries.
AfriSam made a non-binding, conditional proposal to PPC in December 2014 to merge the two cement powerhouses.
“Over the past few months, we applied our minds extensively to the proposed merger with AfriSam. Ultimately, we decided not to proceed with the proposed deal,” says Darryll Castle, CEO of PPC.
