Tanzania-based AMSONS Group has received approval from Kenya's Ministry of Mining, for its proposed buyout of cement maker Bamburi just days after getting the greenlight for the deal from the COMESA Competition Commission. The Tanzania conglomerate plans to acquire up to 100 percent shares of Bamburi Cement Plc.

Ministry of Mining's approval signal that Amsons Group’s has met both statutory and regional competition requirements and marks a key step as the offer period approaches its closure on Thursday, this week.

The Ministry of Mining’s approval was granted under the Mining Act for the Katani Mining License (Registration Number ML/2017/0011), while the COMESA Competition Commission confirmed that the transaction complies with regional competition laws.

Amsons Group CEO Edha Nahdi noted that "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.”

Amsons added that it is now fully prepared to finalize the transaction, marking the beginning of a new chapter of growth for Bamburi Cement Plc. 

Supported by KCB Investment Bank, Amsons noted that it is committed to ensuring a seamless closing process including the prompt payment to shareholders who accept Amsons’ offer, allowing them to realise the value of their investment in Bamburi Cement Plc.

In July, AMSONS Group issued a binding offer to acquire up to all the stake in Nairobi Securities Exchange-listed Bamburi through its Kenyan subsidiary and investment vehicle, Amsons Industries (K) Ltd.

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