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Implats denies Zimplats offer

Mar 08 2012 09:46 Reuters

Company Data

IMPALA PLATINUM HOLDINGS LIMITED [JSE:IMP]

Last traded 0
Change -1,32
% Change 0
Cumulative volume 1290900
Market cap 48.36bn

Last Updated: 19-12-2014 at 04:40. Prices are delayed by 15 minutes. Source: McGregor BFA

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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”.

 
impala platinum holdings  |  zimplats
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