Gov’t weighs options as De Beers race peaks :: Mmegi Online

Government has selected a high-profile team of advisors to conduct due diligence into the De Beers transaction, as reports emerge indicating that a consortium, led by a former company executive, has been selected by Anglo American as the preferred bidder.

Sources close to the transaction told BusinessWeek that Anglo American’s selection of the Global Diamond Consortium as preferred bidder did not mean talks with other parties were closed off. BusinessWeek has established that the consortium is led by former De Beers CEO, Gareth Penny, an experienced diamond veteran with experience up and down the industry’s pipeline.

Responding to supplementary questions in Parliament on Friday, Minister for State, Defence and Security, Moeti Mohwasa, said Botswana had engaged globally renowned advisory, Lazard and Swiss-based CBH Bank, as core advisors for the due diligence.

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Gov’t weighs options as De Beers race peaks

Government has selected a high-profile team of advisors to conduct due diligence into the De Beers transaction, as reports emerge indicating that a consortium, led by a former company executive, has been selected by Anglo American as the preferred bidder.

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