Govt rebuffed offer to up stake in De Beers

Friday, April 01, 2016

Government has declined an offer to buy a pro-rata 10 percent of the Oppenheimer family’s shareholding in De Beers five years ago.

In 2011, Anglo American bought the Oppenheimer family’s 40 percent stake in De Beers for $5.1 billion in cash, ending the dynasty’s 80-year ownership in the world’s largest diamond miner.

The transaction increased Anglo’s holding in De Beers to as much as 85 percent, with the remainder held by government.

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