As expected, shareholders of mining giant Anglo American approved its acquisition of a controlling interest in De Beers. It now controls 85 percent of the company.
The acquisition was made possible after the Oppenheimer family sold its 40 percent interest in the company to Anglo, for $5.1 billion.
“For more than a century, De Beers has captured the imagination of the market and consumers and remains one of the most renowned names in luxury goods and this is testament to its strong leadership,” said Cynthia Carroll, chief executive of Anglo American, in a statement. “Our priority is to build on the outstanding work of the Oppenheimer family and De Beers’ management to seize the opportunities of the evolving diamond market … Diamonds have long been a core part of Anglo American’s strategy.”