JOHANNESBURG (miningweekly.com) – To effect an internal restructuring and create a more efficient group structure, JSE- and NYSE-listed Sibanye-Stillwater on Friday announced a firm intention to acquire 100% of the share capital of Sibanye Gold.
This will be done by way of a scheme arrangement, which the miner said would require a new holding company to be listed with the same shareholders and exactly the same shares in the new holding company to be issued to existing shareholders.
The new holding company will replicate the corporate governance structures and policies of Sibanye Gold.
The new holding company will be called Sibanye-Stillwater and the gold subsidiary will retain the name Sibanye Gold.
The platinum group metal acquisitions completed in recent years – Aquarius Platinum, Rustenburg Platinum, Stillwater and Lonmin – have been incorporated as subsidiaries of the holding company.