SHAREHOLDERS in diamond firm De Beers have given approval to a £13bn bid to take the company private.
De Beers, which is listed on the Johannesburg stock exchange, said at its shareholders' meeting in South Africa, the requisite number of votes to approve the takeover offer was received.
A spokesman for the company said votes had been cast "overwhelmingly in favour", with approval gained by 94 per cent of De Beers' shares issued.
The offer to take the diamond firm private is being tabled by DB Investments, a consortium including London mining group Anglo American, South Africa's wealthy Oppenheimer family and the Botswana government. The consortium offered £12bn in its first bid in February, but raised that by two dollars a share.
Nicky Oppenheimer, chairman of DB Investments, said he was "delighted".
"We are absolutely committed to De Beers remaining a South African company and look forward to steering the company through the challenging times ahead," he said.
Gary Ralfe, De Beers managing director, said: "This is an early fulfilment of the strategic plan to create shareholder value and grow the value of De Beers's diamond business."
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