Sibanye Gold acquired Aquarius Platinum for $294m.

Sibanye Gold Limited acquired all of the shares in Aquarius Platinum, a South African platinum metals producer, for a cash consideration of $0.195 for each Aquarius share by means of a Bermudan amalgamation. The acquisition price is approximately $294m. Commenting on the Transaction, Neal Froneman, CEO of Sibanye said: “We are extremely pleased to have received the full support of the Aquarius board for this Transaction, following extensive due diligence and negotiations. The acquisition of Aquarius is consistent with Sibanye’s strategy to secure value accretive, cash flow enhancing opportunities, which support its dividend strategy. The Transaction is highly complementary with the Rustenburg acquisition, which we recently announced. Significant additional value can be realised from optimising inherent regional and operational synergies between Aquarius’ Kroondal mine and the Rustenburg Operations, which are adjacent to it. At higher PGM prices, these assets will substantially increase earnings and value for Sibanye shareholders”.