End of Rhino Cement As Billionaire Buys Company

ARM Cement Sold to National Cement Company.

Billionaire Raval Guru of Devki Group buys all cement and non-cement assets and business of Athi River Mining Cement PLC for Sh5 billion. National Cement will acquire all cement and non-cement assets and business of ARM Cement PLC in Kenya as a going concern.

The Transaction, which is subject to certain conditions precedent including receipt of requisite regulatory approvals, relates to the Company’s and its subsidiaries’ assets and operations in Kenya.

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ARM Cement currently has operations in Kenya, Tanzania, and Rwanda. The company also has some interests, in the form of unexploited mineral deposits, in South Africa.

The principal activities of the Company and its subsidiaries are the manufacture and distribution of cement, mining, and processing of industrial minerals and chemicals, trading in other building products and the sale of fertilizers.

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