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South Africa: Regulator approves Bushveld’s Vanchem buy

By  |  August 29, 2019

Bushveld’s US$68 million acquisition of Vanchem has been given the green light by the South African competition watchdog.

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    With the Competition Commission of South Africa’s approval, Bushveld stated it remains on track to complete the deal on October 31. All that remains now is the approval of the South African Reserve Bank and for Vanchem to cease certain commercial agreements.

    “Competition Commission approval marks yet another key milestone in closing this exciting transaction,” said CEO Fortune Mojapelo.

    “We remain on track to complete the acquisition within our targeted timeframe, at which point we will have significantly increased our processing capacity, giving us the ability to unlock even more of our existing large high grade resource base and produce a diverse array of products for the steel market, chemical industry and energy storage sector.”

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