Tycoon Ndeta blames CMA for failed Bamburi takeover bid

Savannah Cement chairman Benson Ndeta. 

Photo credit: File| Nation Media Group

Businessman Benson Ndeta has accused the Capital Markets Authority (CMA) and his detractors in government of contributing to his exit from the battle to acquire Bamburi Cement.

Mr Ndeta’s Savannah Clinker on Wednesday withdrew its enhanced offer of Sh76.55 per share or a total of Sh27.7 billion for 100 percent of the shares of the Nairobi Securities Exchange (NSE)-listed firm.

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