Sibanye one step closer to sealing Stillwater mining deal

Cape Town - Sibanye Gold [JSE:SGL] is one step closer to acquiring Stillwater mining after meeting an antitrust condition, according to a Sens statement.

Sibanye and Stillwater received an early termination of the waiting period with respect to Sibanye's proposed acquisition of Stillwater, which was announced on December 9 2016.

The early termination resulted in the antitrust condition required for the transaction being satisfied, bringing Sibanye a step closer to acquiring the mining company.

However, the acquisition remains subject to approval by the holders of Stillwater's outstanding shares, the holders of a majority of Sibanye's shares and the approval of the South African Reserve Bank and other customary conditions.

Speaking on the progress made in the proposed deal, Sibanye CEO Neal Froneman said "We have made positive progress since the announcement of the transaction and continue to work towards satisfying the conditions as soon as possible."

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