PPC unveils $347 mln deal with black investors

Newswire

JOHANNESBURG, Aug 28 (Reuters) - South African cement producer PPC will sell a 15 percent stake worth 2.7 billion rand ($346.6 million) to black investors to meet government requirements on black ownership, it said on Thursday. Pretoria Portland Cement (PPC), which was spun off from industrial group Barloworld last year, said the deal woudl benefit 3.5 million people in South Africa. Investors include black investment groups, the company's own black staff, community groups and construction ...

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