PPC concludes R1bn subscription agreements of BBBEE deal

JSE-listed cement producer PPC on Tuesday said the subscription agreements for its first broad-based black economic empowerment (BBBEE) deal had been concluded, resulting in a cash inflow of some R1-billion. Participants in PPC’s 2008 BBBEE transaction, following the conclusion of the Strategic Black Partners and Community Service Groups components of the deal, had subscribed for 15.6-million shares.