Editor’s Note
This article discusses potential acquisition interest in De Beers from notable investors, including Anil Agarwal and Qatari funds, as its parent company reviews strategic options.
There is growing excitement among major investors regarding the global diamond industry leader, De Beers. Indian-origin billionaire Anil Agarwal and Qatari funds are seriously considering a move to acquire this prestigious diamond company. The owner, Anglo American, is exploring the possibility of selling De Beers as part of a review of its portfolio.
According to a Bloomberg report, Anil Agarwal and Qatari investors are preparing to participate in this potential deal. However, no formal offer has been made by any party yet, and discussions are in the preliminary stages. Anglo American has not yet made any final decision on the matter.
De Beers is one of the world’s largest and oldest diamond companies. This company not only controlled the global diamond market for decades but also deeply influenced public perception through branding such as ‘A Diamond is Forever’.
According to an Economic Times report, if this deal goes through, it would mark a major comeback for Anil Agarwal. He had previously established a strong foothold in the mining and commodity sector through Vedanta Resources.
De Beers is being separated from Anglo American because the London-listed mining company is refocusing on copper and iron ore, but this move has been taken due to pressure on global diamond prices. Two sources said that Vedanta Resources Chairman Agarwal, who has mines in Zambia and South Africa, is one of the interested parties as part of a larger consortium.
Both Anglo and Agarwal declined to comment. Two sources familiar with the matter said that Indian companies, including KGK Group and Kapu Gems, which dominate the domestic cutting and polishing trade and are De Beers’ largest customers, have also shown interest.
KGK Group and Kapu Gems did not respond to requests for comment. Anglo American, which has a book value of $4.9 billion for De Beers, said after incurring a $3.5 billion loss over the past two years that it has hired financial advisors like Morgan Stanley, Goldman Sachs, and Centerview to assist with a sale or demerger and potential listing.