November 21, 2018 / 3:22 PM / 21 days ago

S.African watchdog orders six-month hold on job cuts in Sibanye-Lonmin deal

JOHANNESBURG, Nov 21 (Reuters) - South Africa’s Competition Tribunal on Wednesday approved Sibanye-Stillwater’s takeover of troubled platinum producer Lonmin but imposed a six-month moratorium on job cuts.

South Africa’s Sibanye has proposed to buy Lonmin for about 285 million pounds ($365 million) to create the world’s No. 2 platinum producer in a bid to ride out depressed prices for the metal. (Reporting by Tanisha Heiberg Editing by James Macharia)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below