Impala Platinum (Implats) said on Thursday it had proposed a cash and shares deal valued at about R25-billion to buy Mvelaphanda Resources (Mvela) and Northam Platinum, and expand its assets.
Seventy percent of the transaction amount will be in shares, and the rest in cash. Based on closing prices on October 1, the purchase repesents premiums of 28% and 26% for Mvela and Northam shares, Implats said in a statement.
Implats, the world’s number two producer of platinum, had said last month it had entered into discussions to ”create a South African-controlled platinum champion”.
The deal gives Implats access to Booysendal, Mvela’s prime platinum deposit which has over 100-million shallow ounces of platinum group metals – Reuters