The Capital Markets Authority (CMA) has approved the sale of Holcim Limited’s 29.2% stake in East African Portland Cement (EAPC) Plc to Kalahari Cement Limited, a Kenyan investment company linked to Tanzania’s Amsons Group.

• The sale price was agreed at KSh 27.30 per share, totaling KSh 718.7 million (USD 5.57 million) for 26.3 million shares.
• Kalahari Cement Limited is a newly incorporated Kenyan entity, ultimately owned by Tanzanian investors through Pacific Cement Limited (90%) and Comercio Et Conseil Limited (10%).
• The CMA granted an exemption from mandatory takeover rules, meaning Kalahari Cement is not required to make an offer to other EAPC shareholders, and has pledged not to delist EAPC.