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Savannah Clinker Limited has withdrawn its competing offer to take over Bamburi Cement. This is with the approval of the Capital Markets Authority. The Board in a statement says that the withdrawal has been occasioned by the public arrest of the chairman and main shareholder of Savannah Clinker, Benson Ndeta. Meanwhile, Tanzanian conglomerate, Amson’s Group has received approval from the Ministry of Mining, Blue Economy and Maritime Affairs for its proposed acquisition of Bamburi Cement. This approval follows the prior unconditional clearance from the COMESA Competition Commission.
Savannah Clinker withdraws competing offer to takeover Bamburi Cement
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