Anglo American / De Beers

11 May 2012|In Significant Matters

During November 2011, Anglo American plc (“Anglo”) announced an agreement whereby it acquired an incremental interest in De Beers, thereby increasing its 45% shareholding in the world’s leading diamond company to up to 85%. Anglo entered into an agreement with CHL Holdings Limited (“CHL”) and Centhold International Limited (“CIL”), together representing the Oppenheimer family interest in De Beers (“CHL group”), to acquire their 40% stake in DB Investments and De Beers SA (“De Beers”). The transaction sees the Oppenheimer family, which has controlled De Beers for over 80 years, exiting the diamond industry. Anglo has been a significant shareholder in De Beers since 1926, and has been its largest shareholder since De Beers became a private company in 2001. Nortons Inc. acted for Anglo and the CHL group in notifying the transaction and obtaining the necessary approvals in Southern Africa.

No comments yet.

Leave a Comment