PPC Ltd has extended the deadline for concluding the US$30 million disposal of vacant land owned by its Zimbabwean unit to 30 June 2026, citing administrative delays.
The transaction involves the sale of the Arlinton property by PPC Zimbabwe Ltd, an 88 percent–owned subsidiary of PPC, to Transvaal Africa (Private) Limited for a cash consideration of US$30 million.
In a notice to shareholders, PPC said the parties had previously consolidated various milestone events under the disposal agreement. These milestones were required to be met by 27 February 2026, failing which the agreement would automatically lapse and become null and void.
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However, progress was delayed due to administrative issues, including an unfounded claim to the Arlington property by a Zimbabwean housing cooperative.
The claim was filed at the High Court of Zimbabwe, which dismissed it with costs after ruling that it was frivolous and vexatious.
Following the delays, PPC Zimbabwe and the purchaser agreed to extend the deadline for fulfilling all outstanding milestone conditions to 30 June 2026.
The extension keeps alive one of the significant property transactions in Zimbabwe’s cement sector, as PPC continues efforts to optimise its asset portfolio.
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