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Anglo American Completes De Beers Acquisition

Aug 17, 2012 2:58 PM   By Jeff Miller
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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
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