A Step Closer: SA Approves Anglo's De Beers Purchase

(IDEX Online News) – South Africa's Competition Tribunal approved Anglo American's purchase of a 40 percent stake of De Beers SA. This brings Anglo one step closer to an 85 percent interest in the world's largest diamond miner.

The $5.1 billion deal will end the Oppenheimer's leadership and apparently its involvement in the century-old company.

"There are no public interest concerns and the commission recommended that the merger be approved without conditions," the Competition Tribunal stated on Thursday.

The South African decision follows the European Commission's approval in March.

The government of Botswana holds the remaining 15 percent interest in De Beers.