Anglo American Says 'I Do' To 40% More Of De Beers

Law360, New York (November 4, 2011, 3:41 PM EDT) -- Mining company Anglo American PLC will pay $5.1 billion for the Oppenheimer family's 40 percent interest in the De Beers Group, giving it an 85 percent controlling stake in the world's leading diamond company, Anglo American said Friday.

London-based Anglo American will increase its current 45 percent stake in De Beers SA and DB Investments through its agreement with CHL Holdings Ltd. and Centhold International Ltd., which represent the Oppenheimer family's interests.

“This transaction is a unique opportunity for Anglo American to consolidate control of the...
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