The Competition Tribunal has unconditionally approved a proposed acquisition by Anglo American Plc of control over De Beers UK.
On April 11 2012 the tribunal approved the acquisition by Anglo American of 40% of the shares in De Beers UK from Central Holdings Limited (an Oppenheimer Family company) for $5.1 billion, increasing its shareholding to 85%, with the government of Botswana retaining 15%.
De Beers is the world's leading diamond company and is involved in most of the diamond value chain, including exploration, mining, sorting, valuation and sale of rough diamonds to sight-holders; the marketing and sale of polished diamonds and diamond jewellery to consumer markets; and the development of synthetic super-materials for industrial applications.
For further information on this topic please contact Janine Simpson at Webber Wentzel by telephone (+27 11 530 5000), fax (+27 11 530 5111) or email ([email protected]).