Appian Capital-Backed Funds Sue Mining Co. Over $1.2B Deal

By Humberto J. Rocha (June 20, 2022, 5:38 PM BST) -- Two Brazilian investment funds backed by private equity firm Appian Capital Advisory LLP have sued South African miner Sibanye-Stillwater and its Brazilian subsidiary for pulling out of a billion-dollar deal after it was supposed to close.

The Appian Capital affiliates and its vendor guarantor, ANRH, have told the High Court in London that Sibanye wrongfully breached and renounced a $1.2 billion dollar deal over two copper and nickel mines in Brazil that had been months in the making, according to a May 27 claim form that has recently been made public.

The London-based private equity firm said that the South African...

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