Bidders for ARM urged to formalise bids by end of January

ARM Cement's administrators, PriceWaterhouse Coopers have completed a transaction timetable that will see bidders need to make their bids for the stricken Kenyan Cement producer by the end of January 2019.

ARM Cement is reported to be KES10.2bn (US$100.1m) in debt, said Business Daily. ARM's creditors will review the terms of the best offer, negotiate with the investor and complete the transaction.