Just when it seemed like Impala Platinum might have to abandon its long-held ambition to acquire Royal Bafokeng Platinum, the company swooped in and snatched up a 24.5% stake in the business with a view to ultimately obtain a controlling stake, as it dangles an attractive offer in front of shareholders.
Considered a rare and strategically important acquisition opportunity for Impala, news of the RBPlat deal lifted the Impala share price by as much as 6% to R190 a share on Monday afternoon. RBPlat's share price meanwhile jumped as high as 17.7% to R142 on the day.
The Implats deal appeared to come out of left field. After all, just ten days earlier Northam Platinum had finalised its R17.2 billion acquisition of a 32.8% stake in RBPlats with the potential to increase it to 34.9%.