Savannah Clinker Limited has made a competing offer to acquire 100% of the ordinary shares of Bamburi Cement, challenging a previous bid by Amsons Industries. Savannah Clinker has set its offer at KES 70.00 per share, higher than the original offer of KES 65.00 per share made by Tanzanian-based Amsons Industries (K) Ltd.
The new bid is seen as a strategic move by Savannah Clinker, a private company incorporated in Kenya and wholly owned by Mr. Benson Sende Ndeta. Mr. Ndeta was previously the majority shareholder of Savannah Cement Limited until his shares were transferred to a third party on November 18, 2022. Savannah Cement Limited subsequently went into administration on July 21, 2023.
Despite the competitive nature of the bid, Savannah Clinker Limited has assured that it intends to maintain Bamburi Cement’s existing business operations and uphold the current employment terms for its employees following the acquisition.
