Kalahari Cement has taken formal control of East African Portland Cement Company (EAPCC) after the National Social Security Fund completed the sale of its 27 percent stake to the Tanzanian tycoon-owned firm for Sh1.6 billion.
The stake transfer, confirmed on Monday, followed approvals from the Capital Markets Authority (CMA), the Competition Authority of Kenya (CAK) and the Ministry of Mining, giving Kalahari a 68.7 percent controlling interest in the listed cement maker.
