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Anglo writes De Beers down by $2.9bn

Anglo writes down De Beers, pressing on with business overhaul

Anglo American posted an annual loss of $3.1 billion on Thursday after taking an impairment of $3.8 billion, mostly due to its ailing diamond unit, as it races to restructure into a major copper producer following a bruising takeover battle with BHP last year.

The Financial Times · 3d

Anglo American writes down De Beers value by $2.9bn

Anglo is considering either selling or listing De Beers, the carrying value of which is now about $4bn. That includes about $2bn worth of stock, a similar amount to last year.

Hosted on MSN · 3d

Anglo American writes down De Beers value by another $2.9B but analysts see progress

Anglo American (OTCQX:AAUKF) (OTCQX:NGLOY) said Thursday it wrote down the value of its struggling De Beers diamond business by another $2.9B, after already writing down the business by $1.6B to $7.6B last year.

3don MSN

Chinese retailers are offloading polished diamonds as demand tanks, adding to a $2 billion inventory headache for De Beers

Anglo American's CEO says the headwinds from lab-grown diamonds were surmountable as owner writes down $2.9 billion of De ...

2don MSN

Anglo American dents hopes of listing diamond company De Beers on the London stock market

De Beers, worn by the likes of actress Lily James (pictured), would more likely be sold than listed, said Anglo American ...

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