Bamburi Cement just recorded a 28.33% gain in the Nairobi Stock Exchange with their share price rising from KES 49.60 to 57.75 by close of day. The investors are smiling to the bank after Bamburi Cement; the largest cement producer in Kenya the company’s shared were bought by Tanzania’s Amsons Group. According to news sent to news houses, the acquisition was valued at 180 million dollars or KES 23.22 billion breaking the record as the largest takeover deals in East Africa involving a Tanzanian Company.
The company which was under the management of Holcim will now be owned by the family owned Amsons Group which was founded in Tanzania in 2006. The Tanzanian company is looking to takeover cement sales in Eastern and Central Africa with the acquisition creating an easy path to that endeavour.
It now is matter of waiting to see what direction the company will take and how the market including its competitors will respond to this new development. According to Nahdi the company’s Managing Director the company is planning to deepen their investment in Kenya and in Bamburi.
The high closing price is a distant away from close gainers in the NSE including Home Afrika that saw a 9.37% gain while Olympia Capital Holdings ended the day with a 8.62% increase.
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