A Tanzanian cement manufacturing company, Amsons Industries, has launched a Kes 23.2 billion bid offer to acquire full ownership of the Bamburi Cement PLC.

In a statement on Wednesday, Amsons Industries indicated that the deal would involve acquiring up to 100 percent of the shares in Bamburi for Kes 65 per share.

Further, it asserted that the group’s acquisition of the Bamburi cement company will not only lay a historical record investment ticket in the East African Community (EAC) but will also elevate Kenya’s economy through potential foreign direct investment.

“Amsons Group, Tanzania’s leading manufacturing and energy giant, has issued a binding offer to acquire up to a 100% stake in Kenya’s Bamburi Cement PLC (Bamburi) (NSE: BAMB) in what is likely to be a historical record investment ticket in the East African Community (EAC) Trade relations.

Amsons Group managing director Edha Nahdi said the proposed acquisition will elevate the group’s position “in the cement sector in East Africa” and is pivotal in catalyzing the rapid metamorphosis of the region’s economic development.

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Nahdi further affirmed the company’s commitment to replicate the same in Kenya if they acquire the Bamburi Cement factory.

“To produce our Cement, we deploy world-class cement manufacturing technology that has afforded us sustained market growth and partnerships as the preferred supplier of choice to leading building and construction sector players,” he stated.