Sibanye Gold starts restructuring process, new holding company created

To effect an internal restructuring and create a more efficient group structure, JSE- and NYSE-listed Sibanye-Stillwater on Friday announced a firm intention to acquire 100% of the share capital of Sibanye Gold. This will be done by way of a scheme arrangement, which the miner said would require a new holding company to be listed with the same shareholders and exactly the same shares in the new holding company to be issued to existing shareholders.