trending Market Intelligence /marketintelligence/en/news-insights/trending/cXprlRIZFHU-oYokOTDnkA2 content esgSubNav
In This List

Northam Platinum off-loads 20.3% stake in Trans Hex for 81.8M rand

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook

Case Study

An Oil and Gas Company's Roadmap for Strategic Insights in a Quickly Evolving Regulatory Landscape

Blog

Essential IR Insights Newsletter Fall - 2023


Northam Platinum off-loads 20.3% stake in Trans Hex for 81.8M rand

Northam PlatinumLtd. has off-loaded its 20.3% stake in diamond producer for a total cash considerationof 81.8 million South African rand, according to a May 9 statement.

The sales transaction represents a 7.6% premium on the 30-dayvolume weighted average price of Trans Hex shares on the day prior to the deal.

"The disposal of this non-core holding is in line with Northam'sstrategy of rationalizing its asset portfolio, and focusing on growing its PGM businessinto shallow, mechanizable orebodies," Northam CEO Paul Dunne commented.

Northam acquired the interest in Trans Hex through a transactionby which Mvela Resources Ltd. became a wholly owned unit in 2011. The company acquiredMvela Resources' remaining assets, including a 20.3% interest in Trans Hex.