Who is the preferred bidder for De Beers, and what is their proposed structure?

Anglo American has selected the Global Diamond Consortium (GDC), a group led by De Beers’ former CEO Gareth Penny, as the preferred bidder for De Beers. GDC’s proposal 'envisages participation' by fellow diamond-producing nations Angola and Namibia, though Botswana — which holds a 15% stake in De Beers and 50% in Debswana — is not part of the consortium but is in talks with it.

What role is Botswana playing in the De Beers sale process, and what are its stated objectives?

Botswana is conducting financial and legal due diligence on how to increase its investment in De Beers, exercising its pre-emptive right to buy Anglo’s entire interest; it has hired Lazard LLC and CBH Bank as financial advisers and Desai Law Group and Clifford Chance LLP as legal advisers, alongside technical, diamond valuation, and tax advisers. The government aims to assess the optimal deal structure, its level of participation, and a valuation that best serves national interests — all aligned with its broader financing and debt strategy — with a final decision expected by President Duma Boko by end-September, and while majority control remains a stated possibility, Botswana emphasizes the need for 'an experienced operator, strong...' (incomplete in source).

Anglo American Selects Penny-Led Consortium as Preferred Bidder for De Beers

Jul 17, 2026

Anglo American selected a consortium led by former De Beers CEO Gareth Penny as the preferred bidder to acquire the diamond miner. Botswana is conducting due diligence on the deal, aiming to strengthen its position amidst a market downturn.

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