Embattled cementmaker PPC has agreed to sell its lime business for R515m, another win for a company looking to avoid tapping shareholders as its struggles with a heavy debt burden.
PPC, which has a market capitalisation of R4.76bn on the JSE, has been battling due to the fallout from an ambitious African expansion strategy in which it racked up debt amounting to about R5.2bn at end-September 2020...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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