By Joe Hoppe

Impala Platinum Holdings Ltd. said Monday that it firmly intends to make an offer to acquire peer mining company Royal Bafokeng Platinum Ltd.

Implats, a South African precious-metals company, said that it will offer RBPlat shareholders 150 South African rand ($9.20) a share, consisting of a cash amount of ZAR90 per offer share and 0.3 ordinary share in Implats, valued at ZAR60. The offer price represents a premium of 23% to RBPlat's closing share price of ZAR121.92 on Wednesday, which it provided as a reference date, and a 24% premium to its closing price Friday.

The deal is conditional upon several factors, including RBPlat shareholders constituting more than 50% of the company's share capital accepting the deal, the company said.

Implats said the acquisition would deliver on its strategy to increase its exposure to low-cost, shallow, mechanized assets, and further its high-value, sustainable and competitive portfolio.

The company had initially said on Oct. 27 that it was in talks to buy RBPlat, before saying that the deal fell through on Nov. 9 as the target's largest shareholder was no longer supportive.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

11-29-21 0153ET