Tanzanian Firm Amsons Industries Secures Majority Stake in Bamburi Cement
In a significant market development, Amsons Industries Ltd has successfully acquired 96.4 percent of Bamburi Cement’s total shares, marking a pivotal moment in the regional cement manufacturing landscape.
The transaction involved the transfer of 212.73 million shares, valued at approximately 262.55 billion, solidifying Amsons’ strategic expansion into specialized cement production. This acquisition comes after a competitive bidding process, during which a rival bidder withdrew from negotiations.
Amsons Group emphasized the strategic importance of this acquisition, stating that it aligns with their broader growth objectives and aims to create substantial mutual benefits through the integration.
Prior to the final transaction, Amsons had already purchased 137.06 million shares at a price of 1,234 per share, bringing the total share transfer value to approximately 431.7 billion.
The capital markets regulator has confirmed the transaction details, noting that shareholders who do not explicitly change their decision will be considered as retaining their current shareholding.
This landmark acquisition represents a significant milestone in the regional industrial sector, potentially reshaping the cement manufacturing market and signaling Amsons’ ambitious expansion strategy.
