M&A Deal Summary

The Industrial Development of South Africa, Hebei Iron and Steel Group, Tewoo Group and General Nice Development Acquire Palabora Mining

On December 11, 2012, The Industrial Development of South Africa, Hebei Iron and Steel Group, Tewoo Group and General Nice Development acquired metals/mining company Palabora Mining from Rio Tinto for 373M USD

Acquisition Highlights
  • This is The Industrial Development of South Africa’s 1st, Hebei Iron and Steel Group’s 1st, Tewoo Group’s 1st and General Nice Development’s 1st transaction in the Metals/Mining sector.
  • This is The Industrial Development of South Africa’s , Hebei Iron and Steel Group’s , Tewoo Group’s and General Nice Development’s largest (disclosed) transaction.
  • This is The Industrial Development of South Africa’s 1st, Hebei Iron and Steel Group’s 1st, Tewoo Group’s 1st and General Nice Development’s 1st transaction in South Africa.

M&A Deal Summary
Date 2012-12-11
Target Palabora Mining
Sector Metals/Mining
Buyer(s) The Industrial Development of South Africa
Hebei Iron and Steel Group
Tewoo Group
General Nice Development
Sellers(s) Rio Tinto
Deal Type Divestiture
Deal Value 373M USD

Target

Palabora Mining

Phalaborwa,, South Africa
Palabora Mining Company is a producer of refined copper. The company's open-pit copper mine and associated processing plants produced over 2,7 million tons of copper.

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Buyer(S) 4

Buyer

The Industrial Development of South Africa

Sandton, South Africa
Category Company
Founded 1940
Sector Financial Services
Employees804
DESCRIPTION

The Industrial Development Corporation of South Africa Limited offers financial aid focusing on economic growth and industrial development of start-ups.

DEAL STATS #
Overall 1 of 1
Sector (Metals/Mining) 1 of 1
Type (Divestiture) 1 of 1
Country (South Africa) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
Buyer

Hebei Iron and Steel Group

Tangshan, China
Category Company
Founded 2008
Sector Metals/Mining
DESCRIPTION

Hebei Iron and Steel Group Co., Ltd. is a holding company, which manufactures steel and also offers low-end construction steels.

DEAL STATS #
Overall 1 of 1
Sector (Metals/Mining) 1 of 1
Type (Divestiture) 1 of 1
Country (South Africa) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
Buyer

Tewoo Group

Tianjin, China
Category Company
Founded 1993
Sector Diversified
Employees18,450
DESCRIPTION

Tewoo Group Co., operates business fields including commodity trade, modern logistics, real estate development, financial services and secondary vocational education.

DEAL STATS #
Overall 1 of 1
Sector (Metals/Mining) 1 of 1
Type (Divestiture) 1 of 1
Country (South Africa) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
Buyer

General Nice Development

Hong Kong, China
Category Company
Founded 1992
Sector Oil/Gas Exploration
DESCRIPTION

General Nice Development Limited engages in resources development and production, logistics, and trading businesses.

DEAL STATS #
Overall 1 of 1
Sector (Metals/Mining) 1 of 1
Type (Divestiture) 1 of 1
Country (South Africa) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Rio Tinto

London, United Kingdom
Category Company
Founded 1873
Sector Metals/Mining
Employees57,000
Revenue 54.0B USD (2023)
DESCRIPTION

Rio Tinto is a mining and metals company. The company engages in finding, mining and processing the Earth's mineral resources. Company take a long-term, disciplined approach, developing and running long-life, low-cost, expandable operations that are capable of delivering value throughout the cycle. Rio Tinto was founded in 1873 and is based in London, England.

DEAL STATS #
Overall 9 of 14
Sector (Metals/Mining) 7 of 11
Type (Divestiture) 9 of 12
Country (South Africa) 1 of 1
Year (2012) 3 of 3
Size (of disclosed) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-12 ALTEO Alumina

Gardanne, France

ALTEO Alumina is a global integrated producer and supplier of specialty non-metallurgical grade alumina. ALTEO Alumina was founded in 1894 and is based in Gardanne, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-29 Northparkes Copper Mine

Australia

Northparkes Copper Mine comprises copper mines. The asset is located in New South Wales, Australia.

Sell -
Mergr

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