Bamburi Cement is in line for an additional payout on top of the $84 million (Sh12.86 billion) consideration from its sale of a 70 percent stake in Uganda’s Hima Cement based on the financial performance of the subsidiary post the close of the transaction.
The Nairobi Securities Exchange-listed cement maker told its shareholders in a circular that the top-up payment—known as an Earn-Out Amount—will be triggered if Hima’s earnings before interest, taxes, depreciation, and amortisation (Ebitda) for the 2023 financial year equal or exceed Sh3.13 billion.
