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Transaction likely to influence its planned R750m rights issue decision. 00:01
The net proceeds of about R500m will be used to degear PPCâs SA balance sheet. Image: Moneyweb
JSE-listed cement and lime producer PPC has made further significant progress with its capital restructuring by reaching an agreement to sell its wholly-owned lime business to investor consortium Kgatelopele Lime for R515 million.
In terms of the agreement, the rights, benefits and advantages of PPC Lime transfer to Kgatelopele Lime on April 1, with the divestment expected to reach a close by the end of the year.
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