Last week’s announcement by billionaire businessman Narendra Raval, who founded the Devki Group of Companies, that he would acquire struggling cement processor ARM for Sh5 billion has turned a new spotlight on the tycoon, who has built a massive business empire amid intricate political connections.
The deal announced Wednesday will see National Cement Company Limited, a wholly-owned subsidiary of the Devki Group, acquire all cement and non-cement assets and businesses of ARM Cement PLC in Kenya, cementing the businessman’s vast interests in the construction sector.
