SA Reserve Bank approves Lonmin acquisition

SA Reserve Bank approves Lonmin acquisition

Sibanye-Stillwater is pleased to announce that it has the approval of the South African Reserve Bank, as required in accordance with the Exchange Control Regulations of South Africa, regarding the proposed acquisition of Lonmin, which was announced on 14 December 2017.

The proposed transaction remains scheduled for closure during the second calendar half of 2018 and subject to, inter alia, the passing of the required resolutions by Lonmin and Sibanye-Stillwater shareholders and the approvals of the competition authorities of the UK and South Africa.

Neal Froneman, CEO of Sibanye-Stillwater, says, “We are pleased to have received this important regulatory approval in a timely manner, which takes us another step closer to concluding this important transaction. Management remains focused on ensuring that the remaining conditions are met and will notify stakeholders as further progress is made.”


 

 

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