JOHANNESBURG - Exor Investments, an Italian business dynasty owned by the Agnelli family and whose stakes includes assets in Ferrari and the Juventus Football Club, has acquired a stake of just more than 5percent in Sibanye-Stillwater.
Exor acquired a 5.4percent interest of the issued ordinary shares of Sibanye-Stillwater, which beneficial interest is represented by its holding of 29299829 US depositary shares, the company said yesterday.
In November, the company announced changes to its shareholding. The changes saw the Public Investment Corporation (PIC) increasing its shareholding to 10.8percent from 8.6percent.
It also said that Investec’s shareholding had increased to 5.1percent from 4.2percent and Van Eck Associates Corporation - a New York-based investment management company - increased its shareholding to 10.19percent from 7percent. Sibanye-Stillwater proposed a R5.1billion takeover of struggling platinum producer Lonmin in January, subject to shareholder and Competition Commission approval.
- BUSINESS REPORT