Anglo American To Pay $5.1B For Majority De Beers Stake

Law360, New York (July 31, 2012, 3:41 PM EDT) -- British mining giant Anglo American PLC will raise its minority stake in De Beers SA to 85 percent for $5.1 billion after the Botswana government formally waived a right to take up shares, Anglo American announced Tuesday.

Turning down a preemptive right to take an additional 25 percent stake in the diamond mining company in which it is a minority owner, Botswana's decision paves the way for Anglo American to increase its 45 percent stake as planned. The cash deal is now expected to close in...
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