Oppenheimer Puts Up Anglo American Shares as Loan Security

Author: Edahn Golan

Nicky Oppenheimer, the chairman of De Beers and a major shareholder in Anglo American, has placed 27.3 million of his ordinary shares in Anglo American as security for a loan facility the company disclosed in a regulatory filing.

Oppenheimer holds a 40 percent stake in De Beers and is a director of Anglo American plc. The value of the shares that were put up as security is about GBP 726.6 million or $1.1 billion. Oppenheimer holds the shares through two holding companies, E Oppenheimer & Son International Limited and Gartland Limited.

Recently, Oppenheimer and Anglo American agreed, together with the government of Botswana, to provide De Beers with an infusion of $500 million. Botswana holds a 15 percent stake in De Beers.

According to the filing, E Oppenheimer & Son International and Gartland provided the Anglo American shares as part of a package of security comprising of other assets as well.

Courtesy of IDEX online

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