Barloworld says to spin off PPC seen by end-June

Newswire

JOHANNESBURG, March 27 (Reuters) - South African diversified industrial and logistics group Barloworld expects to conclude its planned spin off of cement maker PPC by the end of June this year, it said on Tuesday. Barloworld said on Dec. 18 it intended to offload its majority stake in PPC, and has returned 1 billion rand ($138.5 million) in a special dividend to shareholders as part of the deal. The unbundling deal is subject to regulatory approvals. PPC said in a separate statement that ...

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