Devki's proposal to acquire a portion of the business appealed to the receiver managers.
Raysut supplies about 300,000 tonnes of clinker to Kenya and Tanzania every three months.
Kone will equip the Global Trade Centre with 35 high-rise elevators.
The planned sale will free up capital that will enable HF Group to build a new loan book.
The acquisition of Butterfield Color comes barely 18 months after Sika acquired L.M. Scofield.
The deal offers a unique proposition to the East African construction market.
Dangote has been approached by ARM for a potential deal.
Kansai Plascon will now be running Sadolin operations in East Africa.
The project is on hold until 2020, despite Kenya being a high-priority expansion area.
The outlet will stock over 1000 Kohler products- including sinks, bathtubs and toilets.