# National Cement completes buyout of 99.94% stake in Rwanda's Cimerwa

Kenya's National Cement Company, part of Devki Group, completed the acquisition of a 99.94% stake in Rwanda's Cimerwa Plc for $84.3 million.

- Type: Acquisition
- Announced: 2024-01-29
- Where: Rwanda
- Value: $84.3M
- Status: completed
- Capacity: 600,000 metric tonnes of cement per annum
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Devki Group](https://endata.com/companies/15152.md) (investor)
- [National Cement](https://endata.com/companies/31162.md) (acquirer)
- [Cimerwa](https://endata.com/companies/37893.md) (target)

## Sources

- [businessdailyafrica.com](https://www.businessdailyafrica.com/bd/markets/market-news/devki-s-national-cement-completes-buyout-of-cimerwa--4507530), 2024-01-29: "We will be heavily investing in the business and transforming Rwanda to a self-sustaining country in terms of all cement-related products."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.