The proposed acquisition of platinum group metals (PGMs) producer Lonmin plc by Sibanye-Stillwater has been unconditionally approved by the UK Competition and Markets Authority (CMA), with the deal now requiring the go-ahead from the South African competition authorities.
The deal, which was announced on December 14, also requires the approval of Lonmin and Sibanye-Stillwater shareholders. Both companies are continuing to engage constructively with the South African competition authorities with a view to obtaining clearance in the country, they said. The company will be the world's second largest platinum producer after Amplats once the acquisition is completed,...