NAIROBI, Kenya – Tanzania’s manufacturing and energy giant, Amsons Group, has announced its intention to acquire up to 100 percent of Kenya’s Bamburi Cement in a deal valued at $180 million (Sh23.2 billion).
This investment is set to become one of the largest within the East African Community (EAC), underlining Amsons Group’s commitment to expanding its footprint in the region.
Amsons Group, through its subsidiary Amsons Industries Limited, has submitted a binding offer to acquire Bamburi Cement at Sh65 per share.
This offer represents a premium over Bamburi Cement’s current share price on the Nairobi Securities Exchange (NSE), signaling Amsons Group’s confidence in the value and potential of this acquisition.
“This acquisition is a strategic move to strengthen our presence in the East African cement industry and is a testament to our commitment to regional economic development and market integration,” stated Edha Nahdi, Managing Director of Amsons Group.
Founded in 2006, Amsons Group has rapidly diversified its operations beyond oil and petroleum products.
The company now boasts a substantial manufacturing capacity, including a 6,000MT/day cement production facility.
The acquisition of Bamburi Cement is expected to further enhance Amsons’ cement manufacturing capabilities and broaden its market reach.
Amsons Group has also made significant strides in the logistics and fuel sectors, with extensive operations across several African countries, including Tanzania, Mozambique, Zambia, and the Democratic Republic of Congo.
The group’s recent purchase of the Mbeya Cement facility in Tanzania from Holcim further solidifies its position as a leading player in the regional cement industry.
Holcim’s Regional Head of Asia, Middle East & Africa, Martin Kriegner, expressed confidence in Amsons Group’s ability to continue developing Bamburi Cement’s business.
“With Amsons Group, we are pleased to have found a strategic and trusted partner best positioned to advance Bamburi Cement PLC’s business in the long term,” Kriegner remarked.
Amsons Group’s acquisition of Bamburi Cement is part of a broader market expansion plan, with additional investments in Kenya anticipated in the coming months.
Nahdi emphasized the group’s commitment to leveraging advanced cement manufacturing technology to replicate its success in the Kenyan market, building on the strong foundation established by Holcim.
