Bamburi bought by Tanzanian Amsons

[gout]

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Some 20B from TZ as billions are used for vain mzungu FDI goose chases.

That was some good excitement for NSE dodo. Great to see Tanzanians who term as slow showing investment ambition.

At Ksh65 ($0.51)per share, Amsons’ cash offer represents a premium of Ksh20 ($0.16) per share or 44.4 percent gain, given that Bamburi share closed Wednesday trade at the NSE at Ksh45 ($0.35) a share.

https://www.businessdailyafrica.com/bd/markets/capital-markets/bamburi-s-stock-gains-on-buyout-offer-from-tz-company-4687338

[RV Heavy Hitter!]

Some 20B from TZ as billions are used for vain mzungu FDI goose chases.

That was some good excitement for NSE dodo. Great to see Tanzanians who term as slow showing investment ambition.

At Ksh65 ($0.51)per share, Amsons’ cash offer represents a premium of Ksh20 ($0.16) per share or 44.4 percent gain, given that Bamburi share closed Wednesday trade at the NSE at Ksh45 ($0.35) a share.

https://www.businessdailyafrica.com/bd/markets/capital-markets/bamburi-s-stock-gains-on-buyout-offer-from-tz-company-4687338

I wish NSE was robust and open like NYSE/NASDAQ. I would be buying shares of these companies from the comfort of my phone! .35 per share, I can easily afford 500K shares!

[gout]

Gangsters paradise. You run down Portlands then become a monopoly.

The Savannah Clinker notice states that Mr Ndeta, a former chairman of East African Portland Cement, was the majority shareholder of the now-under-administration Savannah Cement until November 18, 2022, when his stake was transferred to a third party.

The notice further says Mr Ndeta, an executive chairman of Savannah Clinker, is in the process of exiting his directorship role at Savannah Cement, which fell into administration on July 21, 2023, amid mounting debts.

https://www.businessdailyafrica.com/bd/corporate/companies/bamburi-savannah-rivals-tanzania-amson-sh25bn-takeover-bid-4741772

[sema]

I wish NSE was robust and open like NYSE/NASDAQ

How are the brokers at the NSE making money?

[hk]

How's a company under receivership able or allowed to make offers of  billions even before existing bankruptcy?

[RV Pundit]

Apparently they are two. Savannah the cement. Savannah the Clinker. Clinker one is bidding for Bamburi.

How's a company under receivership able or allowed to make offers of  billions even before existing bankruptcy?

[RV Pundit]

Savannah Clinker is owned by Benson Ndeta.
Savannah Cement in receivership seem owned by lot more people including chinese.
https://www.capitalfm.co.ke/business/2024/08/savannah-clinker-outbids-tanzanian-firm-to-acquire-bamburi-cement/