{"id":28066,"date":"2018-11-09T14:43:49","date_gmt":"2018-11-09T13:43:49","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=28066"},"modified":"2018-11-09T14:43:49","modified_gmt":"2018-11-09T13:43:49","slug":"dangote-moves-to-acquire-kenya-cement-firm-arm","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/","title":{"rendered":"Dangote Moves To Acquire Kenya Cement Firm, ARM"},"content":{"rendered":"

Dangote Cement Plc, Africa\u2019s biggest producer of cement, has expressed interest in acquiring Kenyan rival, ARM Cement Ltd, Bloomberg said it gathered from people knowledgeable about the development yesterday.<\/p>\n

Aliko Dangote, owner of Dangote Cement, said in an interview with Bloomberg that the company is in talks about a potential acquisition of a company with operations in Kenya and Tanzania. While he didn\u2019t identify the company, ARM has assets in both countries, as does Switzerland-based LafargeHolcim Ltd. ARM has been exploring a sale since at least October 2017.<\/p>\n

The company, part-owned by CDC Group Plc, was placed in administration in August after failing to find a strategic investor to help it manage debts of $141 million. Also, a source with direct knowledge of the matter told Reuters that Dangote Cement was approached about a potential transaction by advisers to the debt-laden ARM Cement.<\/p>\n

The source said Dangote Cement has not conducted due diligence on ARM Cement.\u00a0\u00a0 Dangote Cement first signalled its interest in ARM last year and renewed its attention after management of the company was handed over to PricewaterhouseCoopers LLP\u2019s Kenyan unit, said two of the people. ARM\u2019s creditors in October approved the sale of some assets to cut debt.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

The creditors did not identify which subsidiary or assets would be sold, or the possible value of a sale, under a rescue plan, designed to keep the company operational. Dangote Cement spokesman Carl Franklin declined to comment and PWC administrator George Weru said he couldn\u2019t immediately comment when contacted.<\/p>\n

Photo Caption: Alhaji Dangote<\/em><\/strong><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

Dangote Cement Plc, Africa\u2019s biggest producer of cement, has expressed interest in acquiring Kenyan rival, ARM Cement Ltd, Bloomberg said it gathered from people knowledgeable about the development yesterday. Aliko Dangote, owner of Dangote Cement, said in an interview with Bloomberg that the company is in talks about a potential acquisition of a company with …<\/p>\n","protected":false},"author":6,"featured_media":22433,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17],"tags":[1620],"coauthors":[2391],"class_list":["post-28066","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","tag-arm"],"yoast_head":"\nDangote Moves To Acquire Kenya Cement Firm, ARM - National Wire<\/title>\n<meta name=\"description\" content=\"Dangote Cement Plc, Africa\u2019s biggest producer of cement, has expressed interest in acquiring Kenyan rival, ARM Cement Ltd, Bloomberg\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dangote Moves To Acquire Kenya Cement Firm, ARM - National Wire\" \/>\n<meta property=\"og:description\" content=\"Dangote Cement Plc, Africa\u2019s biggest producer of cement, has expressed interest in acquiring Kenyan rival, ARM Cement Ltd, Bloomberg\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-09T13:43:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/03\/dangote.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"476\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/03\/dangote.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/03\/dangote.jpg\",\"width\":640,\"height\":476},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/\",\"name\":\"Dangote Moves To Acquire Kenya Cement Firm, ARM - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/#primaryimage\"},\"datePublished\":\"2018-11-09T13:43:49+00:00\",\"dateModified\":\"2018-11-09T13:43:49+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"description\":\"Dangote Cement Plc, Africa\u2019s biggest producer of cement, has expressed interest in acquiring Kenyan rival, ARM Cement Ltd, Bloomberg\",\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Dangote Moves To Acquire Kenya Cement Firm, ARM\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Dangote Moves To Acquire Kenya Cement Firm, ARM - National Wire","description":"Dangote Cement Plc, Africa\u2019s biggest producer of cement, has expressed interest in acquiring Kenyan rival, ARM Cement Ltd, Bloomberg","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/","og_locale":"en_US","og_type":"article","og_title":"Dangote Moves To Acquire Kenya Cement Firm, ARM - National Wire","og_description":"Dangote Cement Plc, Africa\u2019s biggest producer of cement, has expressed interest in acquiring Kenyan rival, ARM Cement Ltd, Bloomberg","og_url":"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/","og_site_name":"National Wire","article_published_time":"2018-11-09T13:43:49+00:00","og_image":[{"width":640,"height":476,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/03\/dangote.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/03\/dangote.jpg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/03\/dangote.jpg","width":640,"height":476},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/","name":"Dangote Moves To Acquire Kenya Cement Firm, ARM - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/#primaryimage"},"datePublished":"2018-11-09T13:43:49+00:00","dateModified":"2018-11-09T13:43:49+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"description":"Dangote Cement Plc, Africa\u2019s biggest producer of cement, has expressed interest in acquiring Kenyan rival, ARM Cement Ltd, Bloomberg","breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/dangote-moves-to-acquire-kenya-cement-firm-arm\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"Dangote Moves To Acquire Kenya Cement Firm, ARM"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/28066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=28066"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/28066\/revisions"}],"predecessor-version":[{"id":28067,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/28066\/revisions\/28067"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/22433"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=28066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=28066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=28066"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=28066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}