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October 21, 2008
S.Africa's Mvela says Implats bid wins govt approval
South Africa's government has backed Impala Platinum Ltd's (Implats) proposed takeover bid for Mvelaphanda Resources (Mvela) and its unit Northam Platinum, Mvela said.
Implats, the world's No. 2 producer, has tabled a mostly shares and cash bid worth 21.2 billion rand to buy Mvela and Northam, that required a key approval from the government relating to an affirmative action programme.
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Posted by StaffWriter at October 21, 2008 3:05 PM