ARM Cement of Kenya has reportedly taken full control of Rwanda-based Kigali Cement. The firm already owns 35% of Kigali Cement, and it has bought out shareholders who held a combined stake of 65% previously. The transaction giving the Kenyan company full control of Kigali cement was finalised in April this year. The cost of the deal was not revealed by ARM Cement, but going by the net asset value of Kigali Cement, it is estimated to be nearly €900,000. The deal will give ARM Cement a stronger foothold in E
ARM Cement of Kenya has reportedly taken full control of Rwanda-based Kigali Cement. The firm already owns 35% of Kigali Cement, and it has bought out shareholders who held a combined stake of 65% previously. The transaction giving the Kenyan company full control of Kigali cement was finalised in April this year. The cost of the deal was not revealed by ARM Cement, but going by the net asset value of Kigali Cement, it is estimated to be nearly €900,000. The deal will give ARM Cement a stronger foothold in East Africa’s fourth biggest economy.
