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November 7, 2011

Anglo American to acquire stake in DB Investments and De Beers

Anglo American has entered into an agreement with CHL and Centhold International to acquire its 40% interest in DB Investments and De Beers for a total value of $5.1bn.

Anglo American has entered into an agreement with CHL and Centhold International to acquire its 40% interest in DB Investments and De Beers for a total value of $5.1bn.

Together, CHL and Centhold International represent the Oppenheimer family interests (CHL Group).

According to the existing shareholder agreement between Anglo American , CHL and the Government of the Republic of Botswana, the Botswanan Government has right to participate in the transaction and to increase its interest in De Beers to 25%.

If the government exercises its rights, Anglo American will acquire an additional 30% interest in De Beers, bringing the total interest to 75%.

The transaction is expected to be completed in the second half of 2012, subject to regulatory and government approvals, and third-party consents.

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