December 7, 2012 / 10:17 AM / in 5 years

S.Africa's Standard Bank to appeal $60 mln arbitration ruling

JOHANNESBURG, Dec 7 (Reuters) - South Africa’s Standard Bank said on Friday it would appeal an arbitration ruling to refund at least $60 million worth of shares to a union pension fund.

“Standard Bank will, within a week, appeal the whole of the award of the arbitrator,” Africa’s largest lender said in a statement.

Reporting by David Dolan; Editing by Ed Cropley

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