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News Savannah Clinker offers US$197m for Bamburi Cement

Savannah Clinker offers US$197m for Bamburi Cement

Written by Global Cement staff 28 August 2024
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Kenya: Savannah Clinker has offered to acquire Bamburi Cement outright for US$197m, 8% higher than an existing bid for the company of US$183m from Tanzania-based Amsons Industries. Business Daily News has reported that Savannah Clinker requires a minimum stake of 60% in order to finalise the deal. The company said that it could aim to complete the deal before March 2025.

Savannah Clinker owns an upcoming clinker plant and limestone mine in Kitui. Its owner Benson Sande Ndeta formerly held a majority of shares in Savannah Cement, which went into administration in mid-2023.

Published in Global Cement News
Tagged under
  • Bamburi Cement
  • Kenya
  • Savannah Cement
  • Savannah Clinker
  • auction
  • Bid
  • offer
  • Stake
  • GCW674
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