Competition Authority receives merger notification for proposed acquisition of additional shrs in mine by Botswana govt, leading to 100% shareholding, antitrust body says in e-mailed statement.
* Proposed transaction involves unbundling of Debswana Diamond Mining’s shareholding in MCM;
* Govt’s current indirect beneficial shareholding in MCM will be converted into direct equity interest; govt to acquire De Beers’ indirect shareholding in MCM;
* Post-transaction, govt will solely own MCM; transfer entire shareholding to another govt-owned unit, Minerals Development Company Botswana;
* MDCB was established as special purpose vehicle for this transaction;
* NOTE: Debswana is a partnership between govt, De Beers Group. Source: Bloomberg