The Competition Tribunal has postponed proceedings of the merger hearing between Impala Platinum and Royal Bafokeng Platinum to allow time for the Department of Trade, Industry and Competition to finalise a framework agreement with the merging parties.
The tribunal, which started to hear the first part of merger proceedings on Tuesday, resolved to give the department time to address problems relating to the merger, despite Impala's and RBPlats' arguments that the dtic's"gross failure to assist the tribunal" comes in spite of ample time to provide input on the matter.
The tribunal must consider whether to grant approval for Impala Platinum to acquire all remaining shares it does not already own in Royal Bafokeng Platinum.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
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