Swiss firm Holcim and Tanzanian conglomerate Amsons Group have terminated their irrevocable sale agreement for the company’s shares in the ongoing takeover bid for the cement firm, opening the door for rival offeror Savannah Clinker to acquire the 58.3 percent stake.
The decision to release Holcim from the sale obligation coincides with Savannah Clinker revising its offer price upwards from Sh70 to Sh76.55 per share (Sh27.8 billion in total), while Amsons price remains unchanged at Sh65 a share or Sh23.6 billion in total.
