Anglo's De Beers attracts interest from India's Agarwal, Qatari funds: sources
Diamond giant De Beers has drawn interest from at least six consortia, including commodities billionaire Anil Agarwal, Indian diamond firms and Qatari investment funds, sources close to the companies told Reuters.
As Anglo American pivots towards its core assets in copper and iron ore, it is divesting De Beers, though the move is complicated by a slump in global diamond prices.
Agarwal, chair of Vedanta Resources, which has mines in Zambia and South Africa, is among the interested parties as part of a bigger group, two of the sources said, without specifying other members of the consortium or their strategy.
In 2017 Agarwal became Anglo American's largest shareholder with a stake nearing 20%, which he exited two years later, saying he had met his investment goals after the stock price doubled.
Anglo and Agarwal both declined to comment.
Indian companies including KGK Group and Kapu Gems, which dominate the domestic cutting and polishing trade and are De Beers' biggest customers, have also expressed interest separately, as part of bigger groups, two separate sources with knowledge of the matter said.
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