[miningmx.com] – UNION Resources, a company representing a group of South African investors, has bid $136m for Anglo American Platinum’s Union mine, said Reuters citing Tshepo Bokaba, chairman of Union.
“We’ve done a due diligence but that’s not the price we want to pay,” said Bokaba regarding an earlier offer of $240m Union Resources made before it completed its due diligence. “Maybe that’s what Anglo wants for the asset,” he said.
Reuters said deal documents showed Nedbank had been advising on the transaction, but it later reported the bank had not agreed to finance it, citing Peter van Kerckhoven, a senior executive in the company’s investment banking division.
“We are still working on both options, an IPO (initial public offering) and a potential sale for the disposal of Union and Rustenburg. An IPO is the most likely option,” spokeswoman Mpumi Sithole said.
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