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British fund writes off Sh14bn investment in ARM Cement

An ARM Cement plant. FILE PHOTO | NMG

British sovereign wealth fund CDC Group has written off 97.4 percent of its Sh14.6 billion equity investment in ARM Cement #ticker:ARM, which collapsed under a load of debt.

The institutional investor has disclosed that it now values its capital commitment in the Kenyan cement manufacturer at just £2.8 million (Sh372 million).

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