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

Bamburi Cement trucks collect cement from a Silo storage facility in Industrial Area, Nairobi. [Stafford Ondego, Standard]

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.