Subject to a package of competition and public interest conditions, the Competition Tribunal has approved the proposed large merger whereby Impala Platinum Holdings Limited (“Implats”) seeks to acquire Royal Bafokeng Platinum Limited (“RBPlat”).
 
The conditions relate to, among others, Implats honouring its current contracts as well as securing  commercial terms for the renewal of contracts.
 
The conditions further seek to promote a greater spread of ownership and involve commitments relating to an employee share ownership scheme (“ESOP”). On promoting small and medium sized businesses, the conditions involve commitments towards SMME suppliers and enterprise supplier development.
 
Further, the conditions make provision for local investment initiatives to benefit local communities as well as local procurement commitments. Provision is also made for employment-related conditions such as a moratorium on any merger-related retrenchments.