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PPC agrees to sell its lime business for R515m


MONEYWEB
app instead?
Transaction likely to influence its planned R750m rights issue decision.
00:01 
The net proceeds of about R500m will be used to degear PPC’s 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.
INSIDERGOLD ....

South Africa , Eastern Cape , South African , Billy Mawasha , David Fraser , Sizwe Mngomezulu , Roland Van Wijnen , Johan Claassen , Anirudh Misra , Van Wijnen , Department Of Mineral Resources , Competition Commission , Rio Tinto , Mining Proprietary , Anglogold Ashanti , Lm Energy Holdings , Mining Solutions , Kgatelopele Lime , Mineral Resources , Democratic Republic , Proprietary Limited , Nala Investment Lime , Kumba Iron Ore , Energy Holdings , Mining Charter , Lime Acres ,

PPC to sell lime business for R515 million


Roy Cokayne
The divestment forms part of PPC’s ongoing capital restructuring, and the effective net proceeds of about R500 million will be used to degear the cement producer s SA balance sheet.
PPC truck.
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. ....

South Africa , Eastern Cape , South African , Billy Mawasha , David Fraser , Sizwe Mngomezulu , Roland Van Wijnen , Johan Claassen , Anirudh Misra , Van Wijnen , Department Of Mineral Resources , Competition Commission , Rio Tinto , Mining Proprietary , Anglogold Ashanti , Lm Energy Holdings , Mining Solutions , Kgatelopele Lime , Mineral Resources , Democratic Republic , Proprietary Limited , Nala Investment Lime , Kumba Iron Ore , Energy Holdings , Mining Charter , Lime Acres ,

PPC sells lime business to Kgatelopele Lime


PPC sells lime business to Kgatelopele Lime
By Edward West
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PPC HAS SOLD its PPC Lime operation as part of a restructuring project to Kgatelopele Lime, a new company that has Swiss mining and minerals resources group IMR Group as a major shareholder, for R515 million.
PPC plans to use the net proceeds of R500m to degear PPC’s South African balance sheet.
In terms of the restructuring project, PPC’s South African lenders agreed to review the need for a R750m group capital raise if the South African businesses continue to degear towards sustainable debt levels. ....

South Africa , South African , Billy Mawasha , Murray Roberts , Sizwe Mngomezulu , Roland Van Wijnen , Rio Tinto , Anglogold Ashanti , Johannesburg Stock Exchange , Lm Energy Holdings , Kgatelopele Lime , Kolobe Nala Investment Lime , Kumba Iron Ore , Energy Holdings , பில்லி மவாஷா , முர்ரே ராபர்ட்ஸ் , ரியோ டின்டோ , ஆங்கிலோகோல்ட் அசாந்தி , ஜோகன்னஸ்பர்க் ஸ்டாக் பரிமாற்றம் , கும்பா இரும்பு ஒரே , ஆற்றல் ஹோல்டிங்ஸ் ,