South African cement maker PPC said on Monday its Zimbabwe unit has transferred a majority stake to locals to comply with the government’s laws on local black ownership.
The company said Portland Holdings Limited had an existing black shareholding of 21,4% and will sell an additional 29,6% to four local parties.
PPC Zimbabwe unit to sell stake to locals
South African cement maker PPC said on Monday its Zimbabwe unit has transferred a majority stake to locals to comply with the government’s laws on local black ownership.
The company said Portland Holdings Limited had an existing black shareholding of 21,4% and will sell an additional 29,6% to four local parties.