Sibanye ends four-year legal battle with Appian in US$215m deal

BizNews Reporter

Sibanye-Stillwater and Funds sponsored by Appian Capital Advisory Limited announced a commercial settlement on November 10, 2025, resolving their protracted legal dispute. The disagreement stemmed from Sibanye-Stillwater's termination of the January 2022 transaction intended to acquire shares of Atlantic Nickel and Mineração Vale Verde from Appian. The settlement, agreed upon ahead of the quantum trial, mandates a total payment of US$215 million by Sibanye-Stillwater, which covers £5 million in legal fees already paid. Sibanye-Stillwater's CEO stated the resolution is in the Group's best interests, as it precludes further legal processes and costs. This outcome provides certainty for stakeholders and removes a "market overhang of close to 4 years" since the termination. Appian is also pleased to have reached a constructive resolution.