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Sarb to manage Anglo/De Beers inflows

Nov 10 2011 17:03 Reuters

Company Data

ANGLO AMERICAN PLC [JSE:AGL]

Last traded 0
Change -1,54
% Change 0
Cumulative volume 160963
Market cap 341.66bn

Last Updated: 22-10-2014 at 09:34. Prices are delayed by 15 minutes. Source: McGregor BFA

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End of an era at De Beers

 
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.
rand  |  diamonds  |  anglo amercian  |  de beers
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