Tycoon Jaswant Rai has lost the billionaire court fight to buy troubled cement maker Athi River Mining (ARM) for Sh6.5 billion to rival businessman Narendra Raval ‘Guru’ of National Cement.
The High Court yesterday gave Mr Raval the green light to acquire Kenya’s second-biggest cement maker for Sh5 billion, raising doubts that a consortium, including Mr Rai and former ARM chief executive and owner Pradeep Paunrana, could
