PPC Zimbabwe vacant land disposal period lapses without payment

JSE-listed cement and construction materials company PPC has advised its shareholders that it had not received the $30-million payment for the disposal of the Arlington Property, held by subsidiary PPC Zimbabwe, from the proposed buyer Transvaal Africa by June 30, and that the disposal agreement has therefore lapsed. The Arlington Property remains a noncore asset and any other purchase offers PPC Zimbabwe may receive will be considered on their merits, the company says.

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