Sibanye Stillwater Limited (JSE:SSW) entered into an agreement to acquire Reldan Group of Companies in a deal valued at approximately $210 million on November 9, 2023. The acquisition is being concluded at an enterprise value of $211.5 million, with a cash purchase consideration payable of $155.4 million. The consideration was paid from the proceeds of the $500-million senior unsecured guaranteed convertible bond. The Transaction is expected to close during the first quarter of 2024, subject to receipt of applicable antitrust and regulatory approvals and satisfaction of other closing conditions. For 2022, Reldan generated $371 million revenue, $42 million EBITDA, $39 million in earnings and $28 million in free cash flow. The acquisition is expected to be value accretive and positively contribute to the Sibanye-Stillwater Group earnings and cash flow from day one. Goldman Sachs International acted as financial advisor and Michael J. Willisch, Ronan P. Harty, Paul D. Marquardt, Alon Gurfinkel, David A. Zilberberg of Davis Polk & Wardwell Madrid, London, Washington DC and New York offices acted as legal advisors for Sibanye Stillwater. As of March 5, 2023, the transaction will be concluded in March 2024.

Sibanye Stillwater Limited (JSE:SSW) completed the acquisition of Reldan Group of Companies on March 18, 2024.