News

Advanced Search

Anglo American Completes De Beers Acquisition

Aug 17, 2012 2:58 PM   By Jeff Miller
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Anglo American completed its acquisition of an additional 40 percent stake in De Beers from CHL, representing the Oppenheimer family's interests. Anglo American's share in De Beers rose to 85 percent.

Under the terms of the agreement with CHL, originally announced in November 2011, Anglo American paid a total cash consideration of $5.2 billion, comprised of the agreed-upon purchase price of $5.1 billion plus a number of adjustments  provided for under the agreement, according to the company.

Shares in Anglo American fell 2.4 percent today in London, closing at 1,937.50 pence. Shares are down 22 percent from one year ago.

Tags: Anglo American, De Beers, Jeff Miller
Similar Articles
Tango Firestone BK11 mine BotswanaFirestone Upbeat on Early Liqhobong Results
Apr 26, 2017
Firestone Diamonds continues to yield large special stones at its Liqhobong mine in Lesotho and expects to complete...
de beers sortingDe Beers Sales Rise Amid Market Recovery
Apr 24, 2017
De Beers’ rough-diamond sales and production grew in the first quarter, signaling upbeat sentiment in the manufacturing...
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2017 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.