There was high appetite last week for Tanga Cement shares at Dar es Salaam Stock Exchange following the confirmation of its pending takeover by HeidelbergCement Africa.
The German multinational building materials company, which already owns majority shares in Tanzania Portland Cement Company, signed an agreement through its subsidiary Scancem International DA to acquire 68.33 percent of Tanga Cement shares for an estimated Tsh137.33 billion ($59.61 million) by mid next year.
