Amsons Group acquires $70 million stake in Bamburi Cement, eyes full buyout
The move is part of Amsons’ strategy to consolidate its presence in East Africa’s construction sector.
Bamburi Cement
Amsons secures Government approval for Bamburi Cement acquisition
The green light from Kenyan authorities, coupled with unconditional approval from the COMESA Competition Commission, clears the regulatory path for Amsons' buyout bid.
Amsons gains regulatory approval for Bamburi Cement deal
The COMESA Competition Commission confirms the deal will not harm regional competition or result in market dominance, supporting trade integration.
Amsons boosts shareholder engagement in $182.4-million bid for Bamburi acquisition
The bid offers an investment of over Ksh23.5 billion ($182.4 million), equating to Ksh65 ($0.5) per share for up to 100 percent of Bamburi's shares.
Bamburi Cement, linked to Kenyan tycoon Baloobhai Patel, receives new $193.7-million offer
Savannah Clinker has proposed purchasing all 362.9 million shares of Bamburi at Ksh70 ($0.54) per share.
Kenyan tycoon Baloobhai Patel’s Bamburi Cement expects $2.57 million in savings with solar plants
Patel, a Kenyan multimillionaire and owner of a 4.12-percent stake in Bamburi Cement through his private investment company, Aksaya Investment.
Kenyan tycoon Baloobhai Patel-linked cement firm clears 60 percent of $2-million tax debt
Bamburi Cement, a prominent East African cement firm partly owned by Kenyan industrialist Baloobhai Patel, has settled 60 percent of its tax debt
Uganda tax penalty deals blow to cement firm owned by Kenyan tycoon Baloobhai Patel
Patel, a Kenyan multimillionaire with diverse investment interests, owns a 4.12-percent stake in Bamburi Cement.
Baloobhai Patel-linked Bamburi Cement sees profit dip below $2 million
In 2022, Patel acquired an additional 7.9 million shares worth $2.52 million in Bamburi Cement.
Kenyan industrialist Baloobhai Patel acquires $2.5-million stake in Bamburi Cement
Patel also owns stakes in Carbacid, Absa Bank Kenya, Co-operative Bank and Safaricom.
Kenyan Court of Appeal dismisses board of Benson Ndeta’s Savannah Cement
The move comes after protracted legal battles over the insider purchase of a share in the company.