Kenya’s Savannah Clinker Limited has made an offer of Sh70 per share to acquire the entire stake in Bamburi Cement for Sh25.41 billion, sparking a bidding war with a Tanzanian conglomerate that made an initial bid worth Sh23.59 billion.
Savannah Clinker, a private limited company registered in 2019 and wholly owned by Benson Sande Ndeta, has informed the Capital Markets Authority (CMA) of the competing offer and issued a public notice on Wednesday morning.
