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Seriti’s buyout of IDC’s New Largo shares approved by Competition Commission

10th June 2022

By: Marleny Arnoldi

Online News Editor

     

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The Competition Tribunal has approved the deal whereby coal miner Seriti Resources Holdings, through its Seriti New Largo subsidiary, intends to acquire the shares of New Largo Coal currently held by the Industrial Development Corporation (IDC) of South Africa.

Seriti New Largo is a wholly owned subsidiary of Seriti Resources.

New Largo Coal is a jointly controlled entity between Seriti Resources (67.5%) and the IDC (22.5%) and holds the New Largo mining right over a resource of 585-million tonnes of coal in Mpumalanga.

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Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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