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Sovereign Wealth Funds Briefing - Categorized | Investment

South Africa’s PIC buys $289mln stake in Dangote Cement

Posted on 12 June 2013

Dangote Cement Plc, the industrial company owned by Africa’s richest man, Aliko Dangote, has sold a 1.5 percent stake to Public Investment Corporation of South Africa (PIC), a Sovereign Wealth Fund, managing pension funds.
The stake was sold at 179 naira share, valuing the deal at 45.8 billion naira ($289 million) and giving the Lagos-based company an implied market capitalization of $19.3 billion, Moscow-based Renaissance Capital said in an e-mailed statement………………………………………..Full Article: Source


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