Zimplats given two weeks to hand over 29.5 pct stake MyZA

HARARE Feb 26 (Reuters) – Impala Platinum’s
Zimbabwe unit, Zimplats, has been ordered to transfer
29.5 percent of its shares to a state-run fund in order to
comply with local empowerment laws, according to a letter
written by a government minister.

Zimplats, 87 percent owned by Implats, had failed to comply
fully with the law, which seeks to localize at least 51 percent
of shares in all foreign-owned firms, empowerment minister
Saviour Kasukuwere wrote in a letter seen by Reuters on Sunday.

(Reporting by Nelson Banya; Editing by Ed Cropley)