Dangote Cement, owned by Aliko Dangote is looking to acquire PPC, South Africa's largest cement manufacturer.
Dangote Cement, which is Africa’s largest cement maker, said in a statement that it was interested in acquiring all PPC’s shares.
"DCP (Dangote Cement) hereby confirms that the board of directors of DCP has merely communicated its interest to the board of directors of PPC with respect to the acquisition of the entire share capital of PPC," Dangote Cement said in a statement.
"This communication is still at the preliminary stage," the statement said.
PPC, which is South Africa’s largest cement maker, is already considering a bid by local rival AfriSam, which launched a new all-share merger proposal that values PPC at about $700-million.
PPC has a third offer from an unnamed bidder. PPC said in a statement its independent board is considering the proposal.
Dangote Cement, which has operations in 10 countries, is already present in South Africa through its 64% stake in Sephaku Cement.
