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2019-10-05 01:48
Sibanye-Stillwater (SBGL +3.6%) is planning to acquire Sibanye Gold as part of a necessary restructuring following the company’s recent merger with Lonmin.
This will be done by way of a scheme arrangement, under which a new holding company will be created and be listed with the same shareholders and exactly the same shares.
The company says that this move aims to create a more efficient group structure
The new holding company will be called Sibanye-Stillwater and the gold subsidiary will retain the name Sibanye Gold.
The new holding company will replicate the corporate governance structures and policies of Sibanye Gold.