Also: Implats relinquishes control of Sunday Lake and Sebata sells majority stake in the Water Group.
South32 has entered into exclusive negotiations with Seriti Resources for the sale of its SA Energy Coal business.
Sebata has announced plans to sell a majority stake of its subsidiary, the Water Group, to Inzalo Capital Holdings for R388.4 million.
The sale is in a bid to improve Sebata’s empowerment credentials.
Impala Platinum (Implats) has relinquished control of its Sunday Lake exploration prospect in Canada to North American Palladium (NAP).
NAP paid Implats R15 million to increase its stake in the Sunday Lake exploration prospect as the latter wants to focus on bringing its core mines around Rustenburg to profit.
Adrenna Property Group’s management said they wish to delist because the company has had no reason to resort to the market to raise funds since listing in January 1999, other than a vendor placement in June 1999.
The company will pay out R26.2 million to buy out shareholders and delist from Johannesburg.
Adrenna will make a R1.30 per share cash offer to shareholders, which represents a 35.1 percent premium to the 30-day average of 96.25 cents per share up to August 15.