PPC Zimbabwe Now Seeking New Suitors for Non-Core Asset
PPC Ltd’s planned disposal of its Arlington Estate, in ZImbabwe has collapsed after the purchaser failed to meet the payment deadline, with the JSE- and ZSE-listed cement producer now reopening the sale process.
In an update to shareholders on 1 July 2026, PPC said the Disposal Agreement with Transvaal Africa (Private) Limited for the sale of the Arlington Property for US$30 million cash had automatically lapsed and become null and void.
The transaction was being undertaken by PPC’s 88%-held subsidiary, PPC Zimbabwe Ltd [PPCZ]. Shareholders were first notified of the deal on 21 August 2025, with subsequent updates on 1 September 2025, 1 October 2025, and 27 February 2026.
In the February update, PPC advised that administrative delays had pushed milestone dates, and PPCZ and the Purchaser agreed to extend the deadline for all conditions to be met to 30 June 2026.
PPC confirmed that the Disposal Consideration was not paid by 30 June 2026, triggering the lapse of the agreement.
“The Arlington Property remains a non-core asset and any other purchase offers PPCZ may receive will be considered on their merits,” the Company said.
The Arlington Estate is vacant land held by PPC Zimbabwe and has been earmarked for disposal as part of the Group’s strategy to monetise non-core assets.
The original Disposal Agreement was concluded with Transvaal Africa (Private) Limited for US$30 million cash.
