ARM Cement assets sold for Sh5 billion

Former Athi River Mining MD Pradeep Paunrana

NAIROBI, KENYA: ARM Cement has signed a Sh5 billion deal for the transfer of its business to the National Cement Company.

Under the Tuesday deal, National Cement will acquire all cement and non-cement assets and business of ARM Cement PLC in Kenya as a going concern (the “Transaction”) for a purchase price consideration of USD 50M (Sh5 billion).