Newsletter
Submit
World Clock
Hong Kong  03:48
New York  15:48
Mumbai  01:18
Jerusalem  22:48
Brussels  21:48
Moscow  23:48
Home > Diamond News Center > Diamond News > World

Anglo American Gets Approval for De Beers Takeover

07.03.12, 09:46 / World
princess-Israel Diamond Institute
Israel Diamond Institute  Enlarge
 Diamonds
Global mining giant Anglo American has received approval from the European Commission to proceed with its takeover of De Beers, according to a report in The Economic Times.
According to terms of the deal, which was initially announced in November, Anglo American would acquire 40% of De Beers, The Economic Times reported.
The deal would increase Anglo’s stake in De Beers to 85%, effectively ending the involvement of South Africa’s Oppenheimer family in the company, continues The Economic Times.

The report noted that the government of Botswana holds a 15% stake in De Beers, and it has the option of boosting its share to 25%.
The transaction is expected to be finalized later this year.
Recommendations from Facebook
© Copyright 2014 Israel Diamond Institute. All rights reserved
Terms of Use Privacy Policy
Israel Diamond Institute ewave
Access the Israel diamond institute portal
registred members
  #
Forgot your password?