NAIROBI, Kenya, Dec 4 – Tanzanian business conglomerate Amsons Group has secured crucial regulatory approvals for its proposed acquisition of up to 100% of Bamburi Cement.
This follows a nod by the Ministry of Mining, Blue Economy, and Maritime Affairs of Tanzania and the COMESA Competition Commission, marking a leap for the planned acquisition of the cement manufacturer.
The COMESA Competition Commission issued an unconditional clearance, confirming that the transaction complies with regional competition regulations.
Amsons Group’s CEO, Edha Nahdi, expressed his satisfaction with the progress, saying, “Securing all the regulatory approvals is a strong vote of confidence in our unwavering commitment to this transaction.”
“As we approach the close of the offer period, we are confident in our ability to finalize the acquisition smoothly while delivering value to Bamburi Cement shareholders. This milestone reinforces the strength and credibility of our offer.”
In July 2 Amsons Group made a binding offer to acquire a 100% stake in Bamburi through its Kenyan subsidiary, Amsons Industries (K) Ltd.
Supported by KCB Investment Bank, Amsons is now poised to conclude the acquisition.
