Businessman Benson Sande Ndeta's Sh25.4 billion bid for Bamburi will only be viable if he can manage to win the support of the cement firm's majority shareholder Holcim that has already committed to sell its 58.3 percent stake to the first bidder Amsons Group of Tanzania.
Mr Ndeta’s Savannah Clinker Limited, in its counteroffer to Amsons' bid for Bamburi, said that its offer needs to realise at least 60 percent of Bamburi’s issued shares in order to proceed to completion, while Amson’s bid does not have a minimum threshold.
