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FOCUS-De Beers draws interest from billionaire Agarwal, Qatari funds, sources say
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FOCUS-De Beers draws interest from billionaire Agarwal, Qatari funds, sources say
Jun 6, 2025 2:49 AM

LONDON, June 6 (Reuters) - 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 Reuters.

De 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 pressure.

Agarwal, 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 said.

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's biggest customers, have also expressed an interest, two

sources with knowledge of the matter said.

KGK Group and Kapu Gems did not respond to requests for

comment.

Anglo 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 ( MS ),

Goldman Sachs ( GS ) and Centerview to help with a sale or a demerger

and potential listing.

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