De Beers sells stake to BEE group

November 8, 2005

World number one diamond miner De Beers announces that it has sold 26% of its South African operations - De Beers Consolidated Mines (DBCM) - for 3.8 billion rand to a newly created black economic empowerment (BEE) entity called Ponahalo...

Ponahalo will be jointly owned by Ponahalo Investment Holdings and De Beers' South African based employees and pensioners.

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