Anglo eyes Oppenheimer's De Beers stake

No Image

Anglo American Corporation, already one of the world's largest mining companies, is reported by London's Sunday Times to be considering purchasing the 40 percent stake in De Beers, the world's largest diamond miner and trader, held by Oppenheimer family company, Central Holdings.

Anglo already owns 45 percent of De Beers, with the Botswana Government holding the balance of 15 percent.

According the newspaper report, Anglo's big institutional shareholders have been exerting pressure on the company to make De Beers part of its core operations: De Beers is currently a private company. There had been talk of De Beers refloating (it used to be a public company), but it appears that the preferred option would be for Anglo to buy out the Oppenheimer stake which is probably worth upwards of $3 billion.

Editor's Comment
Closure as pain lingers

March 28 will go down as a day that Batswana will never forget because of the accident that occurred near Mmamatlakala in Limpopo, South Africa. The tragedy affected not only the grieving families but the nation at large. Batswana throughout the process stood behind the grieving families and the governments of Botswana and South Africa need much more than a pat on the back.Last Saturday was a day when family members said their last goodbyes to...

Have a Story? Send Us a tip
arrow up