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 >> >>

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