The Government of the Republic of Botswana has decided not to exercise its option to increase its holding in De Beers.

Under the terms of the agreement between Anglo American, the Oppenheimer family, and the Botswana government, the government had the right to increase its De Beers holding from 15 percent to 25 percent.

However, according to an Anglo statement, the government will not exercise that option—meaning Anglo will officially hold 85 percent of the company when the deal closes.

Anglo American expects the transaction to be completed in September, unless an earlier date can be agreed.

JCK