Into whose hands will De Beers fall?

Friday, August 02, 2024 | 850 Views |

Strategising: Masisi, Wanblad and Cook met towards the end of June in Gaborone PIC: BW PRESIDENCY

Government’s wish to have a voice in selecting the new partner in De Beers, may become more difficult after Anglo American revealed last week that besides a direct sale to a single buyer, it is also considering an IPO where the shares are listed for the general public. MBONGENI MGUNI writes

Anglo American is “dual-tracking” the process it is taking to dispose of its 85% stake in De Beers. Last Friday, CEO Duncan Wanblad told an analyst briefing that the mining group was weighing more than one option of how to exit the diamond business.

“In terms of an IPO or sale, obviously it would be great to sell the business into the right hands and it’s very important that it is the right hands.

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