Angola Seeks to Purchase De Beers Stake
Angola has proposed to buy Anglo American's 85% stake in De Beers, competing with other potential buyers like Botswana.
Anglo American has valued De Beers at $4.9bn after $3.5bn in impairments over two years.
- Endiama, Angola's state-owned gem producer, submitted a proposal to Anglo American.
- CEO José Manuel Ganga Júnior confirmed the proposal, with details remaining confidential.
Anglo American has chosen not to comment on the discussion.
Anglo American is divesting its majority stake in De Beers, a process started 17 months ago.
Author's summary: Angola proposes to buy De Beers stake.
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