Sibanye could tap $1.3B to fund $2.2B Stillwater deal
February 06, 2017
Precious Metals and Minerals Mining | Littleton, CO | Corporate Acquisition
Sibanye Gold (JSE: SGL, NYSE: SBGL) might hit up shareholders for upward of $1.3 billion in order to fund some of its $2.2 billion acquisition of Stillwater Mining (NYSE: SWC), according to Reuters. The South African company initially told shareholders it would only need to raise $750 million to pick up the sole platinum and palladium miner in the US, per the report. Sibanye's two largest shareholders, Gold One International and Public Investment, together own a 29% stake in the company and had previously approved the deal.