National Cement Company Limited agreed to acquire Kenyan assets of ARM Cement PLC for $50 million on May 21, 2019. The financing will be done half from the cash flows of National Cement Company and the rest by funds provided by International Finance Corporation (IFC) and KCB Group. The deal is subject to regulatory approvals. As of July 19, 2019, the transfer of Kenyan assets has been stopped temporarily after the ARM Cement PLC's former chief executive, Pradeep Paunrana, went to court challenging the transfer of the assets to rival firm National Cement. Muniu Thoithi and George Weru of PricewaterhouseCoopers acted as administrators in the transaction. Ashley Zefira, Adrian Ntwatwa, Christine Murangi and James Kamau of Iseme, Kamau & Maema Advocates for A group of lenders including Barclays Bank of Kenya Limited, Africa Finance Corporation, Stanbic Bank Kenya Limited, Guaranty Trust Bank (Kenya) Limited and United Bank for Africa (Kenya) Limited.