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HB, gov’t equity deal signing ‘imminent’

Friday, May 19, 2023 | 580 Views |

New partnerships: Masisi unveils the logo for HB Botswana in March PIC: HB ANTWERP

An agreement is “imminent” between HB Antwerp and government for a deal that will see the state take up a 24% equity in the three-year-old Belgian diamond firm, BusinessWeek has established.

Speaking at the launch of HB’s local subsidiary in late March, President Mokgweetsi Masisi announced that government had decided to take up equity in HB Antwerp and provide the firm with a portion of the Okavango Diamond Company's (ODC) rough diamond supply for five years.

Details of the value of the equity stake and the percentage of ODC’s supply going to HB Antwerp were due to be clarified two weeks after the launch when the two signed a formal agreement.

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