By Joe Hoppe
Impala Platinum Holdings Ltd. said Wednesday that it is in talks to buy Royal Bafokeng Platinum Ltd. for an undisclosed amount.
The South African mining company said both parties have completed a reciprocal due diligence exercise and are working on a proposed transaction implementation agreement.
If Impala acquires Royal Bafokeng, it will apply to the Johannesburg Stock Exchange for Bafokeng shares to be delisted, Impala said.
The proposal doesn't constitute a firm offer or a firm intention to make an offer, and shareholders in both companies have been advised to be cautious when dealing in shares in either, Impala said.
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(END) Dow Jones Newswires