[miningmx.com] — TRANS HEX said on Monday it was still finalising certain aspects of its proposed takeover of De Beers’ Namaqualand Mines, warning shareholders to continue exercising caution when dealing in the company’s shares.
Trans Hex announced the deal in May, and has since received approval from the Competition Commission and the boards of the respective companies.
Trans Hex would buy Namaqualand for R225m through an associate company, EPI, in which it has a 50% stake. The other partners in EPI are RE:CM and Calibre (34%) and Dinoka Investment Holdings (11%). The remaining 5% is to be allocated to “broad-based historically disadvantaged groups of persons”.
