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Royal Bafokeng Platinum Bid War: Imprats Makes Second Swing

Royal Bafokeng se bedrywighede is located in Noordwes, 30 km noordwes van Rustenburg. Photo: Royal Bafokeng

  • Impala Platinum (Implats) has proposed to buy a 22% stake in Royal Bafokeng Platinum to institutional investors.
  • This offer is surprising as Imprats was not considered running after Northam Platinum acquired a 32.8% stake in RB Plat.
  • RBPlat currently constitutes an independent board of directors to review and consider proposals to all shareholders.

Impala Platinum (Implats) provided R $ 43 billion to shareholders of Royal Bafokeng Platinum (RBPlat) and acquired 24.52% of the company from institutional investors.

Implats provided shareholders with R150 per RB Plat share. It consists of R90 cash and Impala’s 0.3 common stock.

According to Implatz, this is a 22% premium over the closing price of R121.92 in RB Plat on November 24, 2021.

This offer is surprising as Impala had previously hit a high when Northam Platinum made an offer of R $ 17.2 billion to acquire a 32.8% stake in RB Plat from its parent company, Royal Bafokeng Holdings. On November 19, Northam announced that the acquisition had taken place.

Industry experts point out that there is a greater synergistic effect between RB Plats and Imprats than Northam.

“Implats’ offer and Northam’s recent acquisition of RB Plat shares are a testament to the inherent value of this business and the efforts our team has put into it,” said Steve Phiri, CEO of RB Plat, on Monday.

“We will continue to properly engage with all genuine parties in the pursuit of creating value for all stakeholders.”

RBPlat currently constitutes an independent board of directors to review and consider proposals to all shareholders.

“Shareholders will have the opportunity to evaluate their proposals and make strategic thinking decisions,” the company said in a statement.

The Board of Directors of RBPlat has appointed PSG Capital as an independent expert and expressed his opinion on whether the terms of Imprats’ offer are fair and reasonable. This is included in the Board’s response to the Implats circulation that RB Plat shareholders will receive before January 17, 2022.

Royal Bafokeng Platinum Bid War: Imprats Makes Second Swing

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