Botswana nearing deal to raise De Beers stake to about 25%, Bloomberg reports

By Reuters News

- The preferred bidder for diamond producer De Beers, the Global Diamond Consortium, is nearing an agreement with Botswana that could increase the government's stake to about 25%, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Reuters could not independently verify the report.

  • Global Diamond Consortium, led by former De Beers CEO Gareth Penny, was named preferred bidder in July

  • Anglo American AAL.L put De Beers up for sale in May 2024 as part of a broader restructuring amid weak diamond prices and growing competition from synthetic diamonds

  • Botswana already owns 15% of De Beers

  • Namibia, Angola and private buyers have also shown interest in the business

Capital Com is an execution-only service provider. The present material must be regarded as marketing communication and should not be interpreted as investment research or investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page, then you do so entirely at your own risk