Sibanye-Stillwater Loses $1.2 Billion Lawsuit, But Management Avoids Misconduct Charges, Touts No Compensation Claims
Portfolio Pulse from Stjepan Kalinic
Sibanye-Stillwater (NYSE:SBSW) lost a $1.2 billion lawsuit in the UK High Court for terminating a deal to acquire two Brazilian mines from Appian Capital Advisory. The court ruled that Sibanye had no right to terminate the agreements, but dismissed claims of misconduct against its management. Damages will be determined in a separate trial in 2025.
October 15, 2024 | 10:43 am
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Sibanye-Stillwater lost a $1.2 billion lawsuit for terminating a mine acquisition deal, but avoided misconduct charges. The financial impact will be determined in 2025.
The court ruling against Sibanye-Stillwater for terminating the mine acquisition deal is a negative development, likely impacting investor sentiment and short-term stock price. However, the dismissal of misconduct charges may mitigate some negative effects. The financial impact will be clearer after the 2025 trial.
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IMPORTANCE 80
RELEVANCE 100