Bamburi Cement has completed the sale of its 70 percent stake in its Ugandan subsidiary Hima Cement for an estimated $84 million (Sh12 billion) giving it a cash flow boost.
The Nairobi Securities Exchange-listed firm said Thursday morning the sale of the stake to a consortium of Sarrai Group and Rwimi Holding was completed on March 5 after it received all the regulatory and shareholder approvals. This means the Uganda unit will no longer be Bamburi’s subsidiary.
