AFAIK PIC owns around 67% of Afrisam, not sure if they have anything in PPC though?
PIC owns 15.2% of PPC I think they are the single biggest shareholder if I am not mistaken?
That seems to be the case, PIC probably owns 30% of everything on the JSE at this stage lol
Well saw this on MoneyWeb
The share price of cement maker PPC was up 5% during morning trade on Monday, after the company announced that it had entered formal discussions with Afrisam on a potential merger.
PPC shares were up 5% to R7.35 at 9.17 am.
In a statement on Monday, PPC CEO Darryll Castle said the company and AfriSam have concluded that current market circumstances warrant entering into formal discussions to consider a merger.
Castle said both companies would jointly assess the potential benefits of the proposed merger for all stakeholders, including the value that can be realised for shareholders.
A successful merger between the two cement companies would potentially create a major cement producer in the African continent that would be able to compete internationally.
“Should the proposed merger proceed it will result in the creation of a South African-owned cement producer that is financially stronger, operationally more efficient, has deeper technical capability and is well placed to develop as a major African cement producer” said Castle.
Cement makes have been battling with challenges of low infrastructure spend, tough competition, low cement prices and the dumping of cheap cement in the domestic market.
PPC will hold a press briefing at 12 pm to reveal further details.