Kenya: Seruji takes over Savannah Cement

Seruji has bought a 60 per cent equity in Savannah Cement for an undisclosed amount, it announced at the weekend.

The shares were previously held by China based Acme Wanji and and Wanho International Holdings who held a 20 and 40 per cent respectively.

The buyout now makes Savannah Cement 100 per cent owned by Seruji Limited and Savannah Heights.

Savannah Heights Consortium holds a 40 per cent stake at the firm.

“Following the acquisition of the 60 per cent stake by Seruji, Savannah Cement now becomes a wholly locally owned cement manufacturing firm,” spokes-person Alfred Ng’ang’a said in a statement.

He said the formal completion of the transaction was sealed among the parties late last year.

Source

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