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  • 1 year ago
What the banker saw: Inside story of Sibanye's R35bn swoop on Stillwater

What the banker saw: Inside story of Sibanye's R35bn swoop on Stillwater

LONDON — Entrepreneurs who pull off the major deals get the headlines, but the heavy lifting is usually done behind the scenes. Which was clearly the case after Sibanye's aggressive CEO Neal Froneman targeted North America's leading producer of Platinum Group Metals (PGMs). With Sibanye's share price falling, the Rand under pressure and the target company Stillwater surging in value, Froneman's desire for the deal was stress tested. Ditto the appetite of the aggressive entrepreneur's financial partners, who stumped up almost R35bn that was required to get the deal done. RMB's Julian Grieve was in the thick of the action. Here's the story of how Sibanye's BHAG (Big Hairy Audacious Goal), one of the world's biggest mining deals of 2017 went down. - Alec Hogg

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