Fin24

Sarb to manage Anglo/De Beers inflows

2011-11-10 17:03

Pretoria - The South African Reserve Bank (Sarb) will "manage" any inflows related to a $5.1bn deal between Anglo American and De Beers to mitigate any impact on the rand, it said on Thursday.

"If they come in we will look at managing them like any other flows," Sarb governor Gill Marcus said when asked if the deal would have any impact on the rand.

Global miner Anglo American [JSE:AGL] is set to take control of De Beers, buying out South Africa's Oppenheimer family in a deal that ends the dynasty's direct links to the diamond business after almost a century.