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.
- The details of the discussion are confidential, and Anglo American has not commented.
Anglo American is divesting its majority stake in De Beers, an initiative started 17 months ago.
Author's summary: Angola bids for De Beers stake.
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