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Sibanye Gold Acquiring Stillwater Mining in $2.2B Cash Deal
Sibanye Gold has agreed to acquire Stillwater Mining in a cash transaction valued at about $2.2 billion. Sibanye is headquartered in South Africa and is that nation's largest producer of gold from domestic mines. The company has recently expanded into production of platinum group metals (PGM) through the acquisition of mining assets. Stillwater is the only US miner of platinum group metals, with two mines and a metallurgical processing complex in south-central Montana. Implementation of the transaction is subject to Stillwater and Sibanye shareholder approvals, as well as applicable regulatory approvals in the US and South Africa. Sibanye has secured bridge financing of $2.7 billion provided by Citigroup Global Markets Ltd and HSBC Bank to fund the transaction and repay certain existing indebtedness of Stillwater.
Sibanye Gold Acquiring Stillwater Mining in $2.2B Cash Deal
Sibanye Gold has agreed to acquire Stillwater Mining in a cash transaction valued at about $2.2 billion. Sibanye is headquartered in South Africa and is that nation's largest producer of gold from domestic mines. The company has recently expanded into production of platinum group metals (PGM) through the acquisition of mining assets. Stillwater is the only US miner of platinum group metals, with two mines and a metallurgical processing complex in south-central Montana. Implementation of the transaction is subject to Stillwater and Sibanye shareholder approvals, as well as applicable regulatory approvals in the US and South Africa. Sibanye has secured bridge financing of $2.7 billion provided by Citigroup Global Markets Ltd and HSBC Bank to fund the transaction and repay certain existing indebtedness of Stillwater.
Sibanye Gold Acquiring Stillwater Mining in $2.2B Cash Deal
2017
Article (Journal)
English
Sibanye Gold acquiring Stillwater Mining in $2.2b cash deal
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Stillwater Dam Rehabilitation Project
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