Tanzania's Amsons Group launches Sh23.1b bid to acquire Bamburi cement

Tanzania's leading manufacturing and energy giant, Amsons Group, has issued a binding offer to acquire up to a 100 per cent stake in Kenya's Bamburi Cement PLC for a total sum of Sh23.1 billion.

Amsons, through its Kenyan subsidiary Amsons Industries< (K) Ltd, has issued a notice of intention to launch a public takeover offer to acquire up to 100 per cent of Bamburi's shares at 65 Kenyan shillings per share.

"We have great plans to deepen our investment in Kenya and in Bamburi," said Amsons Group Managing Director Edha Nahdi in a statement issued on Wednesday evening.

“The proposed cross-border acquisition will further strengthen our position in the East African cement sector as part of our regional economic development and market integration strategy."

Amsons, a family-owned business founded in 2006, has diversified from its roots in bulk oil and petroleum products to become a manufacturing and energy conglomerate with over $1 billion in annual revenue. Its cement operations include a 6,000 metric tonnes/day facility and the recently acquired Mbeya Cement in Tanzania.