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Article: Tanzania: Petra Buys De Beers 75 Percent Stake in Dar Mining Firm for $10 Million.
- Article from:
- TendersInfo
- Article date:
- September 17, 2008
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Byline: pinto03
British mining firm with operations in Africa Petra Diamonds Ltd has acquired 75 per cent shares of Willcroft Company Ltd -- part of Tanzania's Williamson Diamond Ltd -- for $10 million. Petra said the acquisition will be completed by mid November. Williamson Diamond is under Cheviot Holdings Ltd, a wholly-owned subsidiary of De Beers Societe Anonyme.
De Beers Group managing director Gareth Penny said the sale of shareholding in Williamson Diamonds is part of an ongoing drive to position De Beers for long-term growth by reviewing its portfolio of mining assets. Mr Penny said De Beers is creating new opportunities for other players in an ...