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Sibanye, Aquarius deal jumps final hurdle

1st April 2016

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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Following ompetition Tribunal approval, Sibanye Gold announced late last month that the final significant condition precedent to its acquisition of Aquarius Platinum had been met.

Sibanye and Aquarius had agreed on the conditions fulfilment date and that 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.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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