ARM Cement’s $140mn investment

In a bid to reduce its debt, ARM Cement of Kenya has revealed that it has managed to obtain an investment of US$140 million (€122.27 million) from UK government-owned development finance institution CDC Group. Of the total, $110 million is for debt financing and the rest will go to capital expenditure.
May 9, 2016 Read time: 1 min

In a bid to reduce its debt, 7789 ARM Cement of Kenya has revealed that it has managed to obtain an investment of US$140 million (€122.27 million) from UK government-owned development finance institution CDC Group.

Of the total, $110 million is for debt financing and the rest will go to capital expenditure.

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Kenya’s ARM Cement stake sale

ARM Cement of Kenya is likely to finalise talks with a foreign investor on picking up a US$140 million (€122.92 million) stake in the company by 15 April 2016.

Of the total investment, US$110 million will be used by the cement company to repay company debt while the rest will be used for expansion.

The investment will be finalised by June 2016.

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