Anglo American completes acquisition of 40% stake in De Beers
August 16, 2012
5.20 Billion USD
On August 16, 2012, Anglo American plc announced the completion of its acquisition of a 40% shareholding in De Beers from CHL (representing the Oppenheimer family interests), thereby increasing Anglo American’s shareholding in De Beers to 85%.
Under the terms of the November 2011 agreement between Anglo American and CHL, Anglo American paid a total cash consideration of US$5.2 billion, comprising the agreed purchase price of US$5.1 billion and a number of adjustments as provided for under the agreement.
Anglo American plc, headquartered in London, United Kingdom, is a British multinational mining company.
De Beers, headquartered in Luxembourg, Luxembourg, is a diamond mining and trading company.
McCarthy Tétrault LLP acted as Canadian counsel for Anglo American, as acquiror, with a team led by Roger Taplin, and including Sam Adkins, Oliver Borgers, Michele Siu, and Adam Wanke.