Lonmin CEO: Sibanye’s revised purchase offer a reflection of new market conditions

PUBLISHED: Thu, 25 Apr 2019 15:26:25 GMT

Sibanye Stillwater has increased its offer to purchase Lonmin by 3.4 per cent to 77.4 pence per Lonmin share. Both boards agree that this reflects the recent recovery in the PGM pricing balanced against the fact that Lonmin continues to be financially constrained and unable to fund the significant investment required to sustain its business and associated employment. Lonmin CEO, Ben Magara joins CNBC Africa for more.

Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.