Cement Billionaires Gang Up Against Narendra Raval Over Plan to Take Over
Devki Group owns Simba Cement, National Cement, ARM Cement and Cemtech. It has spent over Ksh6 Billion in an expansion plan over the past few years including on the acquisition of Cemtech and ARM Cement.
Billionaire Narendra Raval buys ARM Cement’s Kenya assets for Sh5b
Business tycoon Narendra Raval's National Cement Company has bought ARM Cement's assets for US$50 million (Ksh 5 billion), its administrator was quoted by Reuters news agency as saying on Tuesday. ARM Cement was put under administration in August last year by some of its creditors...
Longer wait for ARM to cement financial results
ARM Cement will not file its financial results in time. The cement manufacturer, which is currently under administration, received approval from the Capital Markets Authority (CMA) to delay publishing its financial results. Through ARM Cement's administrators, the company announced that its financial statements will be ready...
ARM suspension from NSE extended by 75 days
The bourse says move aimed at allowing the cash strapped company to turnaround its fortunes
ARM Cement revival hinges on PwC proposal
Administrators want to keep debt laden ARM Cement afloat by asking creditors to approve their plan
ARM Cement woes deepen with NSE suspension
Trading of company's shares suspended days after executive wing lost control of the company's operations