September 4, 2017 / 2:23 PM / 3 months ago

South Africa's AfriSam submits revised merger proposal to PPC

JOHANNESBURG, Sept 4 (Reuters) - South Africa’s cement maker AfriSam has submitted a revised merger approach to rival PPC, the company said on Monday.

AfriSam’s latest proposal values PPC at 5.75 rand per share, or 9.2 billion rand ($709.47 million), and is aimed at creating a group with greater financial muscle to better compete in the global cement market. ($1 = 12.9675 rand) (Reporting by Nqobile Dludla; Editing by David Goodman)

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