Impala in bigger, revised BEE deal with Bafokeng

September 28, 2006

Africa's richest indigenous tribe, the Royal Bafokeng Nation (RBN), is set to emerge as the single largest shareholder in the world's second-largest platinum miner, Impala Platinum (Implats), should shareholders approve a R12,1-billion equity-for-royalty transaction...

The deal, which is to be put before a general meeting in mid-November, could be consummated before the end of the year. It was described by the participants as being 'simpler and better' than a previous deal, dubbed the IRS transaction, which was announced last year, and approved by Implats shareholders at a general meeting on July 4.

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