Tanzanian conglomerate Amsons Group has launched a bid to acquire 100% stake in Bamburi Cement PLC. The intended take-over through its Kenyan subsidiary and investment vehicle Amsons Industries (K) Ltd, will see the group buy shares in the Kenyan cement maker at Ksh 65 per share.
Amsons Group Managing Director Edha Nahdi said the proposed acquisition would deepen the group’s position in the cement sector in East Africa. The group has steadily diversified and grown its portfolio in the manufacturing sector with a 6,000MT/day cement manufacturing capability, including through the recently acquired Mbeya Cement factory, Tanzania. Last November, Holcim, Bamburi’s parent company agreed to sell its 65 percent stake in Mbeya Cement Company Limited.
Added Mr Hadi: “Amsons Industries (T) Limited is a quality cement products manufacturer in Tanzania under the brand names Camel Cement and Tembo Cement, two household brands in the Tanzanian construction market. Our offer to acquire shares in Bamburi is part of our corporate market expansion plan and will mark the formal entry of Amsons Group into the Kenyan market.”
Holcim’s Regional Head for Asia and MEA Martin Kriegner said: “The agreement to sell our stake in Bamburi Cement advances Holcim’s strategy of extending our leadership in our core markets as the global leader in innovative and sustainable building solutions.”
