Business Day

The government of Botswana is considering exercising its pre-emptive rights to part of the Oppenheimer family’s stake in diamond miner De Beers, which is to be sold to  Anglo  American, it announced on Friday.


Botswana’s ministry of minerals, energy and water resources said in a statement that it would explore its option to participate in the transaction and increase its own interest in De Beers on a pro rata basis to 25%, after hearing of the deal stuck between  Anglo American  and CHL Group, an investment vehicle for the Oppenheimer family.

In terms of the deal, Anglo American will acquire the Oppenheimers’ 40% interest in DB Investments SA and De Beers SA for $5,1bn, increasing its current 45% shareholding in De Beers to 85%.  Read more…