Oppenheimer Uses Anglo American Stake as Security

By JCK Staff

Posted on March 15, 2010

Anglo American Plc reported E Oppenheimer & Son International Ltd. used 27.3 million shares in the mining company as security for a loan facility, according to a news report.

According to the report, which quotes an Anglo American statement, the shares, worth 739 million pounds ($1.1 billion) at Friday's close in London, are "connected" with De Beers Chairman Nicky Oppenheimer. 

Anglo American owns 45 percent of De Beers, while the Oppenheimer family has 40 percent and the Botswana government 15 percent.