Implats gets green light to buy RBPlat

JOHANNESBURG - The Competition Tribunal has approved the proposed merger between Impala Platinum and Royal Bafokeng Platinum.

But, the body will be subject to a package of competition and public interest conditions.

The tribunal has put forward some conditions for the transaction.

These include a moratorium on any merger-related retrenchments and an employee share ownership scheme.

The competition body also says the merger must promote small and medium-sized businesses and a commitment towards SMME suppliers and enterprise supplier development empowerment.

Impala already owns almost 41 percent in RBPlat, but the acquisition will give it a controlling stake of over 50 percent.