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Browsing: Bamburi Cement Buyout
- 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 …