By Kyle Morris


Sibanye-Stillwater Ltd. said Tuesday that it is launching an off-market takeover offer for New Century Resources Ltd. and that it will pay $83 million for the shares it doesn't already own.

The precious-metals mining company said it will pay 1.10 Australian dollars (76 cents) a share for the company.

Sibanye-Stillwater is the largest shareholder in New Century Resources with an interest of 19.9%

The offer price implies an equity value for New Century of $103 million on a fully diluted basis.


Write to Kyle Morris at kyle.morris@dowjones.com


(END) Dow Jones Newswires

02-21-23 0128ET