Cement maker PPC, which is struggling under the weight of a debt load that rivals its R5.2bn market value, has agreed to sell its quarry business in Botswana for R60m, a further sign the group may avoid tapping shareholders.
PPC’s shares have more than doubled so far in 2021 and it has been on a winning streak of late, reaching a deal in March to restructure the problematic debt of its unit in the Democratic Republic of Congo ...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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