Troubled cereals manufacturer Proctor & Allan is pegging its hopes on an unnamed buyer who is reportedly willing to pump in $10 million (about Sh1.2 billion) to revive the company and repay debt owed to KCB Bank Kenya.
Proctor & Allan obtained temporary orders last Friday blocking the KCB-appointed receiver managers from running the Limuru-based company, which owes the bank Sh4.9 billion.
