{"id":8671,"date":"2012-03-08T02:59:08","date_gmt":"2012-03-08T00:59:08","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/update-1-zimbabwe-says-implats-makes-offer-on-unit-stake\/"},"modified":"2012-03-08T02:59:08","modified_gmt":"2012-03-08T00:59:08","slug":"update-1-zimbabwe-says-implats-makes-offer-on-unit-stake","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-zimbabwe-says-implats-makes-offer-on-unit-stake\/","title":{"rendered":"UPDATE 1-Zimbabwe says Implats makes offer on unit stake"},"content":{"rendered":"

\t\t<\/span><\/p>\n

(Adds background)<\/span><\/p>\n

<\/span><\/p>\n

HARARE, March 7<\/span> (Reuters) – Impala Platinum,
\nthe world’s second-biggest producer, has made an “irrevocable
\noffer” to hand over a 29.5 percent stake in its Zimplats
\n unit to a Zimbabwe state-run fund, a senior minister
\nsaid on Wednesday.<\/p>\n

<\/span><\/p>\n

Harare has been pushing Implats to hand over majority
\ncontrol of Zimplats to local investors under a new ‘black
\nempowerment’ law.<\/p>\n

<\/span><\/p>\n

Implats has resisted, especially over the latest demand for
\na stake worth more than $300 million.<\/p>\n

<\/span><\/p>\n

“They wrote to us today making an irrevocable offer to
\ncomply and seeking an extension of the deadline to Tuesday to
\nallow the Implats board to meet this Friday,” Empowerment
\nMinister Saviour Kasukuwere told Reuters.<\/p>\n

<\/span><\/p>\n

“We have accepted that.”<\/p>\n

<\/span><\/p>\n

Implats officials could not be reached for immediate
\ncomment.<\/p>\n

<\/span><\/p>\n

Zimbabwe’s Youth and Empowerment Ministry is leading a push
\nfor local blacks to take majority stakes in foreign firms,
\nthough it has never spelled out how this will be done and Harare
\ncannot afford to buy the assets at market prices.<\/p>\n

<\/span><\/p>\n

Zimplats has already handed over 10 percent of its shares to
\n“local communities”, and has offered to transfer a further 5
\npercent to a staff trust fund and 6.5 percent to a sovereign
\nwealth fund.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

(Adds background) HARARE, March 7 (Reuters) – Impala Platinum, the world’s second-biggest producer, has made an “irrevocable offer” to hand over a 29.5 percent stake in its Zimplats unit to a Zimbabwe state-run fund, a senior minister said on Wednesday. Harare has been pushing Implats to hand over majority control of Zimplats to local investors […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8671","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8671"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8671\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}