Giyani in exclusive negotiations with international energy company
JOHANNESBURG (miningweekly.com) – Southern Africa-focused Giyani Gold has entered into exclusive negotiations with a private international energy company with multiple projects in attractive jurisdictions, including an operating asset in South Africa.
The period of exclusivity for the negotiations, which were an initial step towards a proposed transaction between Giyani and the energy company, would last until the execution of a definitive agreement or July 30, 2014, whichever was earlier.
“Giyani Gold is focused on acquiring significant assets to strengthen our company and reward our shareholders. We have built a strong relationship with the energy company and now that we are in a period of mutually desired exclusive negotiations, we will move quickly to finalise a binding definitive agreement,” Giyani executive chairperson Duane Parnham said in a statement on Monday.
He stated that the portfolio held by the energy company included cash-flow generating operations, as well as projects with significant development potential that would be best advanced by combining the management and technical teams of the two companies.
Giyani added that it had also engaged independent consultant Bertan Atalay to work on the proposed transaction.
“The complete terms and conditions for the potential definitive agreement are still being negotiated and there is no assurance that a definitive agreement will be successfully concluded,” Giyani said, adding that the terms and conditions would be subject to the approval of the boards of directors of both companies.
Any proposed transaction would also be subject to the receipt of all required regulatory and shareholder approvals.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...
VISIT SHOWROOM
The Aluminium Federation of South Africa (AFSA), is the voice of the South African aluminium industry.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
