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According to terms of the deal, which was initially announced in November, Anglo American would acquire 40% of De Beers, The Economic Times reported.
The deal would increase Anglo’s stake in De Beers to 85%, effectively ending the involvement of South Africa’s Oppenheimer family in the company, continues The Economic Times.
The report noted that the government of Botswana holds a 15% stake in De Beers, and it has the option of boosting its share to 25%.
The transaction is expected to be finalized later this year.