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Article: De Beers May Go Private.
- Article from:
- Jewelers Circular Keystone
- Article date:
- April 1, 2001
- Author:
CopyrightCOPYRIGHT 2001 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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De Beers is on the verge of becoming a private company for the first time in more than 100 years.
Under a new plan recently approved by the De Beers board, three of its largest shareholders would increase their stake in the company, buying back all remaining shares and forming a new entity, DB Investments. The three shareholders are De Beers' "sister" company, Anglo American PLC, founded by the family of current De Beers chairman Nicky Oppenheimer; Central Holding Limited, the Oppenheimer family holding company; and Debswana, the joint venture between De Beers and the government of Bortswana.
The offer of $43.17 a share values the company at $17.6 ...