A group of flour mill tycoons and associates of the makers of Super Loaf bread have acquired bankrupt Savannah Cement for Sh3.8 billion, ending a two-year search for suitors after KCB and Absa Bank placed the firm under receivership due to a Sh14.1 billion debt.
The wealthy investors linked to Mombasa Maize Millers, Kitui Flour Millers, and Eldoret Grains Limited closed the deal through a newly registered company, Savannah Cement 2025 Limited, according to documents tabled in Parliament.
