Merger Alert: ARM Bokoni Mining Consortium (Pty) Ltd And Bokoni Platinum Mines (Pty) Ltd
Qaphela
Lesi Isaziso Sokuhlanganisa esilandelayo senzelwe izinjongo zolwazi kuphela futhi asibophezeli ku-Competition Tribunal nanoma yiliphi ilungu le-Tribunal.
Lead Text
The Tribunal has approved the large merger whereby ARM Bokoni Mining Consortium (Pty) Ltd (“ARM Bokoni”) intends to acquire the entire share capital of Bokoni Platinum Mines (Pty) Ltd (“Bokoni Platinum”). Upon the implementation of the proposed transaction, ARM Bokoni will exercise sole control over Bokoni Platinum.
Uhlobo lwendaba
Large merger
Amaqembu ahilelekile
ARM Bokoni Mining Consortium (Pty) Ltd And Bokoni Platinum Mines (Pty) Ltd
Isinqumo Senkantolo
Approved with conditions
Kukhishwe ngu
Gillian de Gouveia, Communications Manager
On behalf of the Competition Tribunal of South Africa
The Tribunal has approved the large merger whereby ARM Bokoni Mining Consortium (Pty) Ltd (“ARM Bokoni”) intends to acquire the entire share capital of Bokoni Platinum Mines (Pty) Ltd (“Bokoni Platinum”). Upon the implementation of the proposed transaction, ARM Bokoni will exercise sole control over Bokoni Platinum.
The Tribunal has approved the merger subject to, among others, public-interest related conditions involving Broad-Based Black Economic Empowerment (“B-BBEE”) and employment.
ARM Bokoni is a SPV established for purposes of the proposed transaction and does not have any business activities. The ARM Group is a diversified mining and minerals company. The Bokoni Platinum Group holds the mining rights to and operates Bokoni Mine, an underground PGM mining operation in Limpopo.
A full press release will be issued in due course.
