ZUG, Switzerland (AFP) -- Anglo-Swiss mining giant Xstrata on Tuesday said it had made a friendly 7,525 billion South African Rand (1.05 billion dollar, 767 million euro) offer to take over South Africa' Eland Platinum Holdings.

Xstrata and Eland Platinum said in a joint statement that the Anglo-Swiss group had secured support from 51 percent of the South African company's shareholders, including directors and management.
The cash offer of 105 rands per share for the company's entire share capital represents a premium of 14 percent over Eland's share price over the last 30 days of trading on the Johannesburg Stock Exchange, it added.
Eland's management was recommending that shareholders accept the bid.
""We believe the cash offer represents the culmination of Eland management's continued promise to deliver exceptional value to shareholders and once the scheme is approved by shareholders, a very attractive opportunity for them to realize substantial growth in their investment over a very short period of time,"" said Eland Managing Director David Salter.
Xstrata has pursued an intensive expansion policy in recent years, taking advantage of high metals prices to pursue a host of takeover bids around the world.
""Xstrata's offer for Eland marks the fulfillment of our next step in our strategy to further our position in the platinum group metals sector,"" said Peet Nienaber, chief executive of Xstrata Alloys division.
The offer is subject to regulatory and South African High Court approval, as well as acceptance by more than 75 percent of Eland shareholders who vote