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Botswana To Explore Option To Increase De Beers Stake

Botswana's government said on Friday it will explore an option to increase its stake in De Beers following Anglo American's offer to take control of the diamond group in a $5.1 billion buyout of the Oppenheimer family.

Anglo American said it had reached a deal with the CHL Group, which represents the Oppenheimer family interest, but added Botswana had a pre-emption right over the CHL shares, potentially lifting the government's ownership to 25 percent.

 

"This option will be explored in the coming months," Botswana's government said in a statement. Anglo said earlier Botswana had until the transaction closing date in the second half of 2012 to decide.

 

Reuters

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