Tribunal approves Implats’ buyout of RBPlat subject to conditions
The Competition Tribunal has approved the proposed large merger whereby Impala Platinum (Implats) intends to acquire all shares in Royal Bafokeng Platinum (RBPlat), subject to a package of competition and public interest conditions.
The conditions relate to, among others, Implats honouring its current contracts, as well as securing commercial terms for the renewal of contracts.
The conditions further seek to promote a greater spread of ownership and involve commitments relating to an employee share ownership scheme.
In terms of promoting small and medium-sized businesses, the conditions involve commitments towards small, medium-sized and microenterprise suppliers and enterprise supplier development.
Further, the conditions make provision for local investment initiatives to benefit local communities, as well as local procurement commitments. Provision is also made for employment-related conditions such as a moratorium on any merger-related retrenchments.
Both Implats and Northam Platinum have been seeking to acquire all of the RBPlat shares they do not already own, with Northam having made a formal bid to RBPlat just last week.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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