OM Holdings sells 26% stake in NMPL for RM437mil 


KUALA LUMPUR: OM Holdings Ltd’s (OMH) wholly owned subsidiary OMH (Mauritius) Corp (OM Mauritius) has entered into a conditional binding agreement with Exxaro Resources Ltd to sell its entire 26% interest in Ntsimbintle Mining Proprietary Ltd (NMPL) for about US$101.4mil (RM436.5mil).

NMPL holds a 50.1% interest in Tshipi é Ntle Manganese Mining (Pty) Ltd (Tshipi) and operates the Tshipi Borwa Mine in South Africa, OMH said in a filing with Bursa Malaysia.

The manganese and silicon smelting company said the transaction includes OM Mauritius’ shares in NMPL along with its associated marketing rights.

OMH said Ntsimbintle Holdings Proprietary Ltd (NH) owns the remaining 74% of NMPL, and the successful closing of the transaction, among others, is contingent on the successful sale of NH’s stake in NMPL as well as approval from the relevant authorities.

OMH executive chairman and chief executive officer Low Ngee Tong said the consideration from Exxaro, a bulk commodity and energy company operating in South Africa, is an attractive and compelling opportunity to unlock value for OMH and recirculate capital to its core business operations.

“We look forward to embarking on a new commercial relationship with Exxaro for the Tshipi manganese ore business,” he said.

Subject to requisite regulatory approvals and fulfilment or waiver of the suspensive conditions, the transaction is expected to close in early 2026 upon the transfer of ownership to Exxaro.

On the closing date, Exxaro will make the payment of 95% of the transaction consideration to OM Mauritius, while the balance of 5% will be held in escrow as security in line with an agreed escrow agreement for a period of 12 months after the closing date. — Bernama

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