Tanzanian Conglomerate Completes Major Cement Company Acquisition in Landmark Deal
In a significant market move, Amsons Group has successfully acquired 38% of Bamburi Cement’s shares, valuing the transaction at Sh162.16 billion. The strategic block trade, executed through multiple stockbrokers, represents a pivotal moment in the regional cement industry.
The transaction involved 137.06 million shares traded at Sh1,184.33 per share, accounting for 95% of the day’s total market turnover. This acquisition marks a transformative step for Amsons Group, a diversified conglomerate with substantial interests in cement, fuel, and transport sectors.
Amsons, controlled by Tanzanian businessman Edhah Abdallah Munif, reported a remarkable turnover of Sh180 billion and total assets of Sh146 billion in 2023. The company’s successful bid comes after a competitive takeover process that saw another potential buyer withdraw its offer.
The acquisition strategy allows Amsons to potentially delist Bamburi Cement if it secures 75% of shares, with the option to compulsorily purchase remaining shares if ownership reaches 90%. The final results of this landmark transaction are expected to be published imminently, signaling a potential reshaping of the regional cement industry landscape.
This strategic move underscores Amsons Group’s aggressive expansion and consolidation strategy in the East African market.
