Anglo’s $5.1 Billion Deal Ends Oppenheimer’s De Beers Dynasty

Anglo American Plc agreed to buy the Oppenheimer family’s 40 percent stake in De Beers for $5.1 billion in cash, ending the dynasty’s 80-year ownership in the world’s largest diamond miner.

The transaction will increase Anglo’s holding in De Beers to as much as 85 percent, the London-based company said today in a statement. The deal will add to underlying earnings in the first year of acquisition, Anglo said.