SOUTH Africa’s High Court on Wednesday approved a scheme of arrangement for holders of diamond giant De Beers’ first preference shares, the company said in a statement. The court order followed a vote on May 4 by first preference shareholders who approved an offer from the Anglo American-led consortium bidding for De Beers. The consortium — which includes South Africa’s wealthy Oppenheimer family and the Botswana government — offered first preference shareholders R32 per share, plus the relevant dividend entitlement. The capital portion of the offer represented a 42% premium over the average share price in the 12 months ended January 31, 2001. De Beers’ linked unit holders will cast their key votes on the proposed $18,7-billion buyout offer for the diamond company on Friday. – Reuters