May 19, 2020

Anglo American buys Oppenheimers' stake in De Beers

De Beers
African Business Review
African news
Anglo America
Bizclik Editor
1 min
Anglo American buys Oppenheimers' stake in De Beers

The Oppenheimer family is set to sell its stake in De Beers, ending the South African family’s links to the diamond business after almost 100 years.

Global miner Anglo American will raise its stake in De Beers, the world's biggest distributor of diamonds, to as much as 85 percent in a $5.1 billion deal.



Connecting to the internet in Africa: What's next?

Online marketing: What's next for the banner ad?

Aliko Dangote - the ultimate business leader

To read the latest edition of African Business Review, click here.


Anglo, a shareholder in De Beers for over 80 years, has been the company's largest shareholder since De Beers became a private company in 2001.

Anglo has long wanted to up its stake in the company, as expressed by Chief Executive Cynthia Carroll who said: "We've been very keen on increasing our position in diamonds for a long time."

De Beers, headed by Chairman billionaire Nicky Oppenheimer, controls an estimated 40 percent of the world's rough diamond supply.

African Business Review is now available on the iPad. Click here to download it.

Share article