Oman’s largest cement manufacturer Raysut has made a Sh10.2 billion bid for ARM Cement, putting a price to the auction and opening what may be a bruising fight against Nigeria’s Dangote Cement for the troubled Nairobi Securities Exchange-listed firm.
Dangote Cement, which was the first to show interest in ARM has not disclosed its bid price, which cannot now be less than Raysut’s.
