GABORONE – Anglo American has chosen a most popular purchaser for its stake in diamond producer De Beers, with Botswana weighing whether or not to train its proper of first refusal both by itself, with Anglo’s chosen bidder, or alongside a 3rd occasion, a authorities official mentioned on Friday.
Anglo put De Beers, one of many world’s main diamond corporations with operations and exploration spanning Botswana, Namibia, Angola, South Africa and Canada, up on the market in Might 2024 as a part of a broader restructuring prompted by falling diamond costs and the rising reputation of artificial diamonds.
The enterprise has attracted curiosity from the governments of Botswana, which already owns a 15% stake, Namibia and Angola, in addition to personal patrons.
“Anglo American ran a aggressive course of involving three shortlisted bidders, and has since recognized a most popular bidder, the International Diamond Consortium,” Botswana’s Minister for State President, Defence and Safety Moeti Mohwasa instructed lawmakers on Friday.
The consortium’s proposal to incorporate Angola and Namibia was welcome, Mohwasa added.
He didn’t disclose the consortium companions, however mentioned it was pressing to safe an skilled operator backed by a secure, long-term possession construction and a reputable, well-funded turnaround plan.
Requested to remark, an Anglo American spokesperson mentioned the corporate was progressing the sale course of and would supply updates on the acceptable time.
Sources beforehand instructed Reuters that two consortia stay within the operating for stakes in De Beers, down from six in 2025. The 2 teams embrace the governments of diamond-producing nations, ex-De Beers CEO Gareth Penny, now chair of asset supervisor Ninety One, a Qatari funding fund and Israeli businessman Nir Livnat.
Botswana has “full freedom to proceed both alongside the popular bidder as a associate or to train its preemption rights alone or with a 3rd occasion”, Mohwasa mentioned.
He added that Botswana was at the moment working with its monetary advisors to evaluate the optimum deal construction.
Mohwasa mentioned the sale transaction was more likely to be concluded by the ultimate quarter of 2026, topic to a number of circumstances, together with the Botswana authorities’s approval.
