PPC has hired Investec bank to review an offer by Fairfax Financial Holdings to buy a stake in it. The process will also look at ‘credible’ offers made by other investors including Nigeria’s Dangote Cement.
No duration for the review has been specified but the cement producer said it would take ‘some time.’ The Takeover Regulation Panel has granted Fairfax an extension until November 2017 to distribute its offer to shareholders, PPC said, allowing Investec more time to complete its report into the proposal.
