Friday, January 11, 2013

Zimbabwe: Local investors to acquire controlling stake in Impala Zimplats for $971 million

(Reuters) - Impala Platinum, the world's second-largest platinum miner, has agreed to sell a majority stake in its Zimbabwe unit to local black investors for US$971 million to meet black ownership and empowerment targets set by the government.

The deal, which will see the Zimplats unit lend the money needed to buy the stake, is Zimbabwe's largest local ownership transaction and a major scalp for the Mugabe administration's black economic empowerment push.

"The transaction being

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