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Economic Times
3 days ago
- Business
- Economic Times
De Beers draws interest from billionaire Agarwal, Qatari funds, sources say
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Diamond giant De Beers has drawn interest from at least six consortia, including billionaire Anil Agarwal , Indian diamond firms and Qatari investment funds, sources close to the companies told Beers is being carved out of Anglo American as the London-listed miner refocuses on copper and iron ore but the move comes with global diamond prices under chairman of Vedanta Resources , which has mines in Zambia and South Africa, is among the interested parties, as part of a bigger group, two sources and Agarwal both declined to companies including KGK Group and Kapu Gems, which dominate the domestic cutting and polishing trade, and are De Beers's biggest customers, have also expressed an interest, two sources with knowledge of the matter Group and Kapu Gems did not respond to requests for American, whose book value for De Beers stands at $4.9 billion, following $3.5 billion in impairments over the last two years, said it has retained financial advisers Morgan Stanley, Goldman Sachs and Centerview to help with a sale or a demerger and potential listing.
Time of India
3 days ago
- Business
- Time of India
De Beers draws interest from billionaire Agarwal, Qatari funds, sources say
De Beers, currently being divested from Anglo American, has attracted interest from multiple consortia, including billionaire Anil Agarwal, Indian diamond firms like KGK Group and Kapu Gems, and Qatari investment funds. This move occurs amidst challenging global diamond prices as Anglo American shifts its focus to copper and iron ore. Tired of too many ads? Remove Ads Diamond giant De Beers has drawn interest from at least six consortia, including billionaire Anil Agarwal , Indian diamond firms and Qatari investment funds, sources close to the companies told Beers is being carved out of Anglo American as the London-listed miner refocuses on copper and iron ore but the move comes with global diamond prices under chairman of Vedanta Resources , which has mines in Zambia and South Africa, is among the interested parties, as part of a bigger group, two sources and Agarwal both declined to companies including KGK Group and Kapu Gems, which dominate the domestic cutting and polishing trade, and are De Beers's biggest customers, have also expressed an interest, two sources with knowledge of the matter Group and Kapu Gems did not respond to requests for American, whose book value for De Beers stands at $4.9 billion, following $3.5 billion in impairments over the last two years, said it has retained financial advisers Morgan Stanley, Goldman Sachs and Centerview to help with a sale or a demerger and potential listing.
