Sibanye Gold at acquisition process
Sibanye-Stillwater advised that, the Company was awarded the ‘Global Resources and Commodities M&A Deal of the Year’ under the large-cap segment at the 10th Annual M&A Atlas Awards gala function, held at the Intrepid Museum in New York for the US$2.2 billion acquisition of Stillwater Mining Company in the United States (US).
Commenting on the award CEO Neal Froneman stated that “this award is gratifying as it again reflects the recognition by industry participants of the significance and transformative nature of the Stillwater acquisition. This transaction has already had a significant impact on the Group.
The Stillwater operations comprised 60% of the Group adjusted EBITDA* in Q1 2018, supporting the change in name from Sibanye Gold to Sibanye-Stillwater in 2017, which better reflects the international diversification of the Group”.
The Group reports adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) based on the definitions in Sibanye-Stillwater’s revolving credit facility agreements. Adjusted EBITDA is a pro forma number for JSE Listings Requirements purposes. It not an IFRS measure and is for illustrative purposes only and is the responsibility of the directors.
For a reconciliation of the components of adjusted EBITDA, please refer to note 24.10 on page 89 of the 2017 Group Annual Financial Statements available at company’s website. Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue said, James Wellsted, Head of Investor Relations.