Headlines
Angola bids for majority stake in De Beers, source says
Published by Global Banking and Finance Review
Posted on October 24, 2025
2 min readLast updated: January 21, 2026
Quick Summary
Angola has bid for a majority stake in De Beers, challenging Botswana's interest. The sale by Anglo American comes amid declining diamond prices.
Angola Pursues Majority Stake in De Beers Amid Diamond Price Decline
LONDON (Reuters) -Angola has bid for a majority stake in Anglo American's unit De Beers, a source familiar with the matter told Reuters on Friday, setting up a potential standoff with neighbouring Botswana, which also wants to take control of De Beers.
The company is one of the world's leading diamond companies, with operations spanning Botswana, Namibia, Angola, South Africa and Canada.
It has been put up for sale by Anglo amid falling diamond prices and had attracted interest from at least six consortia, according to a Reuters report in June.
The source said Angola's state-owned diamond company Endiama had submitted the offer for a majority stake in De Beers, confirming a report by Bloomberg News.
Botswana, which currently owns 15% of De Beers, considers the company a strategic national asset, despite the slump in global diamond prices, which has badly hurt its economy.
Its mining minister said in July that the Southern African country wanted to take full control of De Beers.
Angola had said in September that it was seeking a minority stake in De Beers and thought it should be led by a private-sector firm.
(Reporting by Clara Denina;Writing by Silvia Aloisi;Editing by Alexander Winning)
Key Takeaways
- •Angola bids for majority stake in De Beers.
- •Botswana also interested in acquiring De Beers.
- •De Beers is a leading global diamond company.
- •Falling diamond prices prompt sale by Anglo American.
- •Endiama, Angola's state-owned company, leads the bid.
Frequently Asked Questions about Angola bids for majority stake in De Beers, source says
1What is De Beers?
De Beers is a leading diamond company known for its diamond exploration, mining, and retailing. It operates in several countries and is a significant player in the global diamond market.
2What is a majority stake?
A majority stake refers to owning more than 50% of a company's shares, giving the stakeholder significant control over company decisions and operations.
3What are consortia?
Consortia are groups of individuals or organizations that come together to collaborate on a specific project or investment, sharing resources and risks.
4What is a strategic asset?
A strategic asset is an important resource or capability that provides a competitive advantage to a company or country, often essential for achieving long-term goals.