Tanzanian manufacturing and energy conglomerate, Amsons Group, has concluded the takeover offer of Bamburi Cement after months of controversy and uncertainty.

In a published regulatory notice, Amsons Group said it secured 96.54 per cent acceptances from Bamburi shareholders via its Kenyan investment vehicle, Amsons Industries (K) Ltd.

Amsons Group Managing Director Edha Nahdi indicated that the Tanzanian company was committed to a closure of the US$180 million deal through a swift and smooth process.

Nahdi noted that the acquisition of Bamburi Cement aligns with Amsons’ strategy to expand into specialized cement manufacturing and complements its larger growth objectives.

“With Bamburi Cement now part of the Amsons family, we anticipate creating significant mutual benefits through this integration,” intimated Nahdi.

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The Group MD further highlighted the conglomerate’s plans to expand into additional sectors within Kenya, including energy, food manufacturing, warehousing, and logistics.

“This acquisition not only marks our formal entry into the Kenyan market but also reinforces our long-term vision to grow across multiple industries in East Africa,” he added.

The Bamburi Cement takeover is the first significant foreign direct investment by a Tanzanian company in Kenya’s listed market marking a key step in regional integration.

Amsons Group was founded in Tanzania in 2006 and operates in cement manufacturing, fuel distribution, food processing, and logistics with an annual turnover surpassing USD1 billion.

The group’s cement division boasts a daily production capacity of 6,000MT, which has been strengthened by the conglomerate’s recent acquisition of Mbeya Cement in Tanzania.

It also operates a 500MT/day wheat flour milling plant, a state-of-the-art premix concrete plant, inland container depots (ICDs), fuel and lubricants, LPG, and a transportation fleet.

This comes three weeks after embattled Savannah Clinker Limited withdrew its Sh27.78 billion competing bid blaming its chairman Benson Ndeta’s arrest as among key reasons.

In a statement to the public, Savannah said Ndeta’s arrest and charging in court the previous week has caused the financier of its bid to demand for additional due diligence.

Its board said the Capital Markets Authority (CMA) also refused its request for an extension of the offer period by 60 days to allow the firm to respond to issues raised by its financier.