Mining News

Biggest African fund manager is key to platinum takeover battle

Impala Platinum Holdings said Africa’s biggest fund manager must make a decision over what to do with its Royal Bafokeng Platinum stake, which has become central to ending an eight-month takeover battle that is hindering the companies from making future plans. South Africa’s Public Investment Corporation, which owns 9.9% of RBPlat, according to data compiled by Bloomberg, has had enough time to weigh Impala’s’ 150 rand ($9.30) per share offer, Nico Muller, Impala’s chief executive officer said. A decision on its stake in the smaller miner would help bring certainty to both companies, he added.

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