Anglo American has received the final regulatory approval to buy the Oppenheimer family’s 40 percent stake in De Beers.
The transaction should close in the second half of this year, following the South African Minister of Mineral Resources’ approval of the merger, the company said.
That consent was considered the final approval required for this transaction to proceed.
The transaction could give Anglo an 85 percent share in De Beers, an increase from its current 45 percent.
The company’s other shareholder, the government of Botswana, has the contractual right to increase its shareholding in De Beers from 15 percent to 25 percent, which would knock Anglo’s holding down to 75 percent. At press time, Botswana has not said whether it will exercise that right.
Anglo paid $5.1 billion for the Oppenheimer’s stake.