Fin24

Implats denies Zimplats offer

2012-03-08 09:46

Johannesburg - Impala Platinum Holdings [JSE:IMP] has denied it made an “irrevocable offer” to hand over a stake in its local unit to the government of Zimbabwe.

“Implats has not made an irrevocable offer to the Zimbabwe government today,” the company said in a statement late on Wednesday.

A senior Zimbabwe minister told Reuters on Wednesday that the world’s second-largest platinum producer had made the offer to hand over a 29.5% stake in its Zimplats unit to a state-run fund.

Harare has been pushing Implats to hand over majority control of the unit to local investors under a new and controversial black empowerment law.

Implats said it was committed to finding an “equitable and mutually acceptable solution”.