# AfriSam and Fairfax Africa propose merger with PPC and partial offer

AfriSam submitted a revised merger proposal to PPC, including a R4 billion recapitalisation by Fairfax Africa, and Fairfax made a partial offer to acquire R2 billion in PPC shares at R5.75 per share.

- Type: Acquisition
- Announced: 2017-09-04
- Where: South Africa
- Value: $450.0M (6.00B ZAR)
- Status: announced
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [PPC Ltd](https://endata.com/companies/22158.md) (target)
- [AfriSam Group Limited](https://endata.com/companies/22159.md) (acquirer)
- [Fairfax Africa Investments](https://endata.com/companies/26725.md) (investor)
- [Fairfax Financial Holdings](https://endata.com/companies/26907.md) (acquirer)
- [Public Investment Corporation](https://endata.com/companies/26908.md) (investor)

## Sources

- [eprop.co.za](https://eprop.co.za/commercial-property-news/item/20789-afrisam-makes-a-revised-proposal-to-ppc-regarding-the-merger-and-fairfax-makes-a-partial-offer-to-ppc-shareholders), 2017-09-04: "AfriSam Group (Pty) Ltd (AfriSam) is pleased to announce that it submitted a revised merger proposal to PPC Limited (PPC) and that Fairfax Africa Investments Proprietary Limited (Fairfax) has made a Partial Offer to acquire ordinary shares in PPC representing a value of R2 billion held by PPC shareh"
- [cemnet.com](https://www.cemnet.com/News/story/162469/pic-reportedly-backs-joint-offer-for-ppc.html), 2017-09-13: "PPC'S largest shareholder, Public Investment Corporation (PIC), is supporting a joint offer for South Africa's biggest cement-maker from domestic rival AfriSam Group and Canadian insurer Fairfax Financial Holdings."
- [moneyweb.co.za](https://www.moneyweb.co.za/news/companies-and-deals/cement-merger-will-benefit-afrisam-ppc-shareholders/), 2017-10-11: "Our view is that the combined entity is going to be better placed to compete effectively with a strong balance sheet."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.