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News National Cement to acquire CIMERWA

National Cement to acquire CIMERWA

Written by Global Cement staff 20 November 2023
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Rwanda: Kenya-based Devki Group subsidiary National Cement signed a deal to acquire CIMERWA from International Holdings Proprietary Limited, a subsidiary of South Africa-based PPC, and minority shareholders on 17 November 2023.

KTPress News has reported that CIMERWA’s chair, Regis Rugemanshuro, said “We look forward to welcoming National Cement as our new shareholder. We are confident that they have the financial and technical resources required to support CIMERWA’s growth and expansion in line with our vision and their ambitions in the region.”

Narendra Raval, chair of Devki Group, said “We are committed to a long-term strategic partnership with CIMERWA. We believe in the potential for this business and its people and are excited by the opportunity to support infrastructure development in the region in line with our strategic expansion ambitions.”

Last modified on 22 November 2023
Published in Global Cement News
Tagged under
  • PPC
  • International Holdings Proprietary Limited
  • Cimerwa Cement
  • National Cement
  • Devki Group
  • Acquisition
  • Rwanda
  • Deal
  • GCW635
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