Impala Platinum Sells $971M Unit Stake To Meet Mugabe Goal

Law360, New York (January 11, 2013, 1:20 PM EST) -- Global platinum miner Impala Platinum Ltd. agreed Friday to hand off a majority share of its Zimbabwe unit to local black investors in a $971 million deal in order to match new ownership goals established by President Robert Mugabe.

In the deal, Zimplats Holdings Ltd., Impala's Zimbabwean division, will offer a 51 percent equity ownership stake to locals and keep a hold of the remaining interest as well as management duties.

Under the company’s scheme, investors in the communities surrounding Zimplats’ operations and the company’s full-time...
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