October 22, 2018 / 10:51 AM / 22 days ago

Kenya's ARM Cement's administrator proposes to keep company running

NAIROBI, Oct 22 (Reuters) - The administrator of Kenya’s debt-laden ARM Cement will ask its creditors for support keeping the company afloat by selling some of its assets to cut debt, as well as a plan to engage with financiers for working capital.

George Weru, a co-administrator for the cement firm, told Reuters the proposals will be put to the company’s creditors on Tuesday when they meet them to chart best the way forward.

The company was put into administration in August by some of its creditors and its shares suspended from the Nairobi bourse. (Reporting by Duncan Miriri, editing by David Evans)

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