Mumias Receiver Begins New Bidding Process for Kenyan Sugar Mill
Investors sought to lease facilities, including sugarcane estate, factory, administrator says in statement in Nairobi-based Daily Nation newspaper.
* Facilities held as collateral by lenders; leases for assets to be finalized after obtaining required approvals
* Receiver intends to turnaround Mumias Sugar operations “through modernization and efficient management”
* Bidders have until Aug. 31 to submit their offers
* NOTE: June 9, Kenyan Lawmakers Seek Competitive Bidding for Key Sugar Miller