Anglo spends $5.1bn to bring stake in De Beers to 85%

Anglo American has bought an extra 40% of De Beers from the Oppenheimers for $5.1bn, giving it a majority stake in the world's largest diamond firm.

Anglo American has bought another 40% of De Beers from the Oppenheimer family for $5.1-billion, giving it a majority stake in the world’s largest diamond firm.

Mining giant Anglo American said Friday it agreed to buy another 40% of De Beers from South Africa’s Oppenheimer family for $5.1-billion, giving it a majority stake in the world’s largest diamond firm.

“Anglo American has entered into an agreement with CHL and Centhold International Limited, together representing the Oppenheimer family interests, to acquire their 40% interest in De Beers for a total cash consideration of US$5.1-billion,” the group said in a statement.

The deal will increase Anglo American’s current 45-percent shareholding in De Beers to up to 85%.—Sapa-AFP

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