Implats' buyout of RBPlat extended after Northam intervenes in competition proceedings

27th May 2022 By: Donna Slater - Creamer Media Contributing Editor and Photographer

Platinum group metal miners Impala Platinum (Implats) and Royal Bafokeng Platinum (RBPlat) have informed their respective shareholders that the proposed deal whereby Implats intends to acquire all the shares in RBPlat it does not already own is likely to be delayed.

The transaction has received the go-ahead by the Competition Commission and Implats and RBPlat have started processes before the Competition Tribunal.

They have, however, been informed that Northam Platinum intends to make an application to intervene in the tribunal process.

Implats has, therefore, extended the deadline for the fulfilment or waiver of conditions to the transaction to August 8.