(Agence Ecofin) – While the Swiss group is gradually disengaging from Africa to refocus on other markets, Amsons Group is seeking to strengthen its position in cement in East Africa, where the construction sector is in decline. full boom.
The Swiss cement group Holcim announced, in a press release published on Friday, December 20, the sale of its entire 58.6% stake in its Kenyan subsidiary Bamburi Cement Limited to the Tanzanian conglomerate Amsons Group, for more than 100 million dollars.
“This divestment is part of Holcim's strategy to consolidate its leadership in its key markets as a global leader in innovative and sustainable construction solutions, with Amsons Group ideally positioned to grow the business in Kenya on the long term”, underlined the Swiss group which has begun a process of gradual disengagement from Africa to refocus on markets considered more strategic, particularly in North America.
As part of this strategy, Holcim had already sold, in November 2023, its 65% stake in its Tanzanian subsidiary Mbeya Cement Company to Amsons Group. It also more recently announced the sale of its 83.8% stake in Lafarge Africa, its subsidiary in Nigeria, to the Chinese giant Huaxin Cement for a billion dollars.
Amsons Group announced, in July 2024, that it had made a takeover bid (OPA) of 23.59 billion Kenyan shillings (approximately $183 million) for the Holcim group subsidiary in Kenya. This takeover bid, made through Amsons Industries, the Kenyan subsidiary of the Tanzanian group, concerned 100% of the company's capital at a price of 65 shillings (0.51 dollars) per share.
Bamburi Cement is the leading cement producer in Kenya with a market share of around 30%.
Founded in 2006, Amsons Group has interests in the cement, real estate, hydrocarbons and agri-food sectors. In addition to its domestic market, this Tanzanian family conglomerate, which has an annual turnover of more than a billion dollars, is present in Malawi, Zambia, Mozambique, Burundi and the Democratic Republic of Congo.
Walid Kefi
Also read:
02/12/2024 – Nigeria: Holcim will sell Lafarge Africa to China's Huaxin for $1 billion
07/15/2024 – A $183 million takeover bid from Tanzanian Amsons for the Kenyan subsidiary of Holcim
10/19/2018 – The Lafarge/Holcim group in difficulty in Nigeria after the first three quarters of 2018
12/07/2018 – At the beginning of 2019, Lafarge-Holcim will open a new cement plant with a production capacity of 500,000 tonnes in Cameroon
