https://www.miningweekly.com

Iluka, Sierra Rutile still committed to merger

26th October 2016

By: Creamer Media Reporter

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Mineral sands miners Iluka Resources and Sierra Rutile have agreed not to terminate their proposed merger amid an ongoing review of the deal by the German Antitrust Authority.

ASX-listed Iluka in August made an offer to acquire Aim-listed Sierra Rutile for £215-million.

The parties announced in September that the German Antitrust Authority had referred the merger for a phase 2 review.

Both companies are working to assist the authority in its review and have agreed to continue discussions with each other until November 4 on how to proceed with the merger.

Meanwhile, Sierra Rutile has also reached an agreement with the Sierra Leone government in relation to capital gains tax payable by Sierra Rutile shareholders in connection with the merger.

Sierra Rutile’s majority shareholder Pala Investments will pay an undisclosed amount in respect of capital gains tax to the government if the merger becomes conditional.

No further payments will be required from Iluka, Sierra Rutile or any of its other shareholders in respect of capital gains tax.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 
Axiom Hydraulics
Axiom Hydraulics

Axiom Hydraulics is a trusted leader in South Africa’s hydraulic industry, delivering world-class components, systems, and engineering expertise...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 August 2026
Magazine round up | 21 August 2026
21st August 2026

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.046 0.07s - 111pq - 2rq
Subscribe Now