Stillwater Mining said Tuesday that its majority shareholder, Norilsk Nickel, sold its entire stake in the U.S. metals company.
Norilsk’s Norimet unit sold 37 million Stillwater shares publicly at $19.50 per share and the remaining 9 million shares to UB, the miner said.
Norilsk said it was selling its shares to rationalize its international business operations and focus on its core operations, in a Nov. 29 statement.
Stillwater is the only U.S. producer of palladium and platinum and the largest primary producer of platinum group metals outside of South Africa.
(Bloomberg)
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