Cement producer CIMERWA Plc has completed the purchase of Prime Cement Ltd. CIMERWA sent a notice to the Rwanda Stock Exchange (RSE) informing the regulator that it had finalised the acquisition on 18 July 2024.
CIMERWA stated that the purchase of Prime Cement’s assets was an ‘off-market transaction’. This suggests the company negotiated a private deal with Prime Cement directly.
A statement signed by CIMERWA’s Executive Director, Rajasekhar Naidu, announced, “Under this agreement, CIMERWA Plc will acquire all assets of PRIME CEMENT Ltd thereby committing to ensuring cement sovereignty in Rwanda.”
