November 8, 2018 / 1:16 PM / 9 days ago

Dangote Cement approached about Kenya's ARM Cement -source

ABUJA, Nov 8 (Reuters) - Nigeria’s Dangote Cement has been approached about a potential transaction by advisers to debt-laden Kenya’s ARM Cement which is under administration by its creditors, a source with direct knowledge of the matter told Reuters.

ARM Cement, once Kenya’s second-largest cement maker, has been in administration since August with its shares suspended from the Nairobi bourse. It owes a total of about $190 million to a range of creditors including local commercial banks. (Reporting by Chijioke Ohuocha; editing by Jason Neely)

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