HomeNewsBotswana declines option to raise De Beers stake

Botswana declines option to raise De Beers stake

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GABORONE – Botswana has declined an option to lift its stake in diamond giant De Beers, leaving global miner Anglo American with the full $5.1 billion price tag for a buy-out of the remaining shares owned by the Oppenheimer family.

Diamond-rich Botswana had a right to raise its stake in the company to 25 percent from 15 percent, a move that would have cost it over $1 billion. Anglo American’s ownership in the world’s largest diamond producer by value will now be 85 percent when the transaction is complete.

Diamond-rich Botswana had a right to raise its stake in the company to 25 percent from 15 percent, a move that would have cost it over $1 billion. Anglo American’s ownership in the world’s largest diamond producer by value will now be 85 percent when the transaction is complete.

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