The Oppenheimer family, controller of giant diamond miner DeBeers since 1927, has officially let go of its 40% stake in the company, after South Africa’s Mineral Resources Minister Susan Shabangu on Friday approved the acquisition of that portion by Anglo American.
The $5.1 billion deal, announced in November, increases Anglo’s stake in the diamond mining giant from the 45% to 85%, marking the end of Oppenheimer era at De Beers.