JOHANNESBURG (miningweekly.com) – Following last week’s Competition Tribunal approval, Sibanye Gold on Tuesday announced that the final significant condition precedent to its acquisition of Aquarius Platinum had been met.
Sibanye and Aquarius agreed that the conditions fulfilment date would be set for Thursday. The effective date of the transaction would be April 12, with payment occurring within two weeks thereafter.
Sibanye would acquire all the shares in Aquarius for a cash consideration of $0.195 for each Aquarius share.
In January, Aquarius Platinum shareholders approved the deal.
“On the conditions fulfilment date, the parties will confirm that all of the conditions required for the transaction to proceed have been satisfied and exchange executed copies of the amalgamation agreement, as well as other documentation required for the transaction to become effective,” the company said in an update to shareholders.
Sibanye’s shares on the Johannesburg bourse were up 1.3% to trade at R58.27 a share by 10:30 on Tuesday.