Anglo American completes acquisition of De Beers
Anglo American (LON:AAL) has completed its acquisition of a 40% stake in the De Beers Group from the Oppenheimer family, which has had a major ownership stake in the diamond mining, distribution and marketing company for more than 80 years.
The $5.1 billion deal, announced in November, increased Anglo’s stake in the diamond mining giant from the 45% to 85%, marking the end of Oppenheimer era at De Beers. The government of Botswana owns the remaining 15% of the company.
De Beers and the Oppenheimer family are one of the most storied relationships in the world of diamonds, and perhaps in mining itself >> >>