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Browsing: East African cement market
- 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), …