The two CEOs say they "look forward to the combination of the businesses".
Britain’s Competition and Markets Authority (CMA) this week unconditionally cleared Sibanye-Stillwater’s proposed takeover of Lonmin. The South African precious metals miner made an all-share offer for London-listed Lonmin in December 2017, in a R5.4 billion deal aimed at creating the world’s second-largest platinum producer.
The CEOs of Sibanye and Lonmin said in a joint statement:
“We look forward to the combination of the businesses creating a leading mine-to-market player with enhanced scale and resources, able to compete more effectively.”
The deal is scheduled to close in the second half of this year. It remains subject to approval from South African competition authorities.
Pictured: Sibanye CEO Neal Froneman