(Reuters) - South Africa’s Impala Platinum Holdings Ltd (Implats) (IMPJ.J) said on Monday it would buy Canada-based North American Palladium Ltd (PDL.TO) for about C$1 billion ($751.77 million), marking the miner’s first purchase outside of Africa. Implats pursued North American Palladium for three years, and the deal adds the Lac des Iles Mine in Thunder Bay, Ontario to the South African company’s portfolio. Canadian investment manager Brookfield Business Partners LP (BBU_u.TO) will get C$16 per share in cash for the about 81% of North American Palladium owned by the investor and its partners. Other minority shareholders of the Canadian company will receive C$19.74 per share, the same price as the stock’s Friday closing. Implats said it will finance the deal using cash and a bridge loan facility.

Source: The North Africa Journal October 07, 2019 15:33 UTC