Update on the Sandouville transaction: Completion of the Workers council consultation and signing of the Share Purchase Agreement with Eramet
Johannesburg, 4 November 2021: Sibanye-Stillwater (JSE: SSW and NYSE: SBSW - https://www.commodity-tv.com/ondemand/companies/profil/sibanye-stillwater-ltd/) is pleased to announce that following the signing of the exclusive Put Option Agreement, which was announced on 30 July 2021, the Share Purchase Agreement (SPA) has now been signed to acquire 100% of the Sandouville nickel hydrometallurgical processing facility from Eramet SA (Transaction).
The signature of the SPA follows the successful completion of the information-consultation process with the employee representative bodies of Eramet Sandouville and Eramet, who have rendered a favourable opinion of the Transaction.
The Transaction has also received the key regulatory approvals of the South African Reserve Bank and clearance from the French Foreign Investment Control Office.
Sibanye-Stillwater and Eramet continue to work on the remaining conditions precedent, which include approval for the transfer of permits and carve out arrangements, with these expected to be fulfilled by early next year (2022).
Investor relations contact:Email: [email protected] James WellstedHead of Investor RelationsTel: +27 (0) 83 453 4014
Swiss Resource Capital AG
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
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