Browsing: Amsons Group

• Kalahari Cement, a Nairobi-registered subsidiary of Amsons Group, has successfully sealed its bid to purchase 13,144,442 (14.6%) ordinary shares in the issued share capital of EAPC from Associated International Cement Limited and another 13,180,442 (14.6%) ordinary shares in EAPC from Cementia Holding AG at KES27.30 per share.
• Transaction comes almost a year after Amsons Group entered Kenya’s cement trade through acquisition of major player Bamburi Cement.
• Amsons Group is a family-owned business founded in 2006 in Tanzania, with presence in multiple sectors including oil and gas, manufacturing and transportation across Zambia, Malawi, Mozambique, DRC, and Burundi.

Tanzania-based Amsons Group has expanded its capacity in regional construction industry with its 29.2 per cent equity stake purchase in troubled East Africa Portland Cement (EAPC) just months after takeover of rival, Bamburi Cement.

In a market update on Wednesday, Amsons Group said its Kenya-registered subsidiary, Kalahari Cement, has successfully sealed its bid …

• Amsons Group has started integrating its new acquisition, Bamburi Cement of Kenya into its industry portfolio in the region. Amsons says it will invest $400M in Bamburi in the next three years.
• With Bamburi Cement’s integration, Amsons Group’s total cement manufacturing capacity has now grown to 13,000MT/day.
• Tanzania-based conglomerate says it will enhance the high operating and commercial standards set by Holcim Ltd and Lafarge.

Tanzania-based conglomerate Amsons Group has announced that it has started integrating its new acquisition, Bamburi Cement of Kenya into its corporate fold in the region.

The family-owned company said the integration through its Kenyan subsidiary and investment vehicle, Amsons Industries (K) Ltd, follows the recent closure of a transaction in which Amsons Group placed a $183 million bid and acquired over 95 per cent of the issued equity shares in Bamburi late last year.

Amsons Group Managing Director Mr Edha Nahdi said the integration will …

• AMSONS Group granted regulatory go ahead to acquire Bamburi cement.
• The family-owned business has partnered with KCB Investment Bank as its transaction adviser.
• Amson made its initial offer when Bamburi Cement’s shares were trading at Sh45, but the stock has since risen, trading at Sh66 on Thursday afternoon.

Tanzanian business conglomerate AMSONS Group has received regulatory approval from the COMESA Competition Commission for its proposed acquisition of up to 100 per cent of Bamburi Cement.

The move coming at a time that Kenya’s Savannah Clinker Limited has already raised its bid for the acquisition of Bamburi Cement, even though its offer already exceeds Tanzania Amsoms’ competing offer.

In a statement, the COMESA Competition Commission confirmed that the proposed acquisition falls within its ambit and does not pose a competition risk within the common market.

“It is unlikely that the proposed merger will lead to the creation of a dominant position …

• Savannah Clinker seeks to acquire 100% of the Nairobi Securities Exchange-issued shares of Bamburi Cement for $197.3M (KES25.4Bn), an offer that is higher than the $180M (KES23Bn) placed earlier by Amsons Group.
• The competition between Savannah Clinker and Amsons Group underscores an ever-persistent rivalry between Kenyan and Tanzanian firms in the East African market.
• In July, Amsons’ $180M offer was seen as a strategic move to expand its footprint in Kenya and tap into the lucrative construction market.

The push by Tanzania-based conglomerate Amsons Group to grow its footprint across Kenya through the acquisition of Bamburi Cement has taken a fresh twist after a Kenyan-based mining firm Savannah Clinker Ltd placed a more attractive counter-offer for the full acquisition of Bamburi PLC.

In the latest filing with market regulators, Savannah Clinker seeks to acquire 100 per cent of the Nairobi Securities Exchange-issued shares of Bamburi Cement for $197.3 million(KES25.4 billion), …