×

South Africa's Sibanye-Stillwater to buy troubled platinum producer Lonmin

Dec 14 (Reuters) - South Africa's Sibanye-Stillwater has agreed to buy Lonmin, valuing the troubled platinum producer at about 285 million pounds ($382.47 million), the two companies said on Thursday.

Under the offer, each Lonmin Shareholder will receive 0.967 new Sibanye-Stillwater shares for each Lonmin share.

The deal values each Lonmin Share at 86.3 pence and represents a premium of about 35 percent to its closing price on Dec. 13.

($1 = 0.7452 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Adrian Croft)