quitting Oppenheimers go on with Oppenheimer Son
Created out of the joint venture was an Africa focused investment company, Tana Africa Capital.Interestingly, the explanation on the joint venture came from Jonathan Oppenheimer, the one time heir apparent to the De Beers and Anglo American dynasty, who will turn 42 in seven days November 18.The Oxford graduate son of Nicky and Strilli Oppenheimer, who stepped down as MD of South Africa De Beers Consolidated Mines in 2006, is now a crucial member of the family that has been in diamonds for more than 100 years, with Anglo a major De Beers shareholder since 1926.its namesake, Ethiopia Lake Tana, which is the source of the Blue Nile high quality designer replica handbags , Tana Africa will aim to serve as a fount of development and leave a tangible and positive legacy, the fourth generation Oppenheimer says.The mission of Tana, which brings together deep industry expertise and extensive networks across Africa www.dolabuy.su , is to build businesses in Africa.The company will also benefit from Temasek on the replica louis vuitton ground African knowledge and operating experience and will provide capital and business building support to African businesses mainly in two primary sectors, consumer and agriculture, while also looking at opportunities in media Designer Louis Vuitton Replica Handbags , health and education.In the consumer sector, it will focus on those companies that are well positioned to meet the consumption needs of Africa young, energetic and growing population.In an interview with SAfm Alec Hogg, Nicky Oppenheimer said the money from the deal would boost funds in E Oppen heimer Son private equity replica designer handbags joint venture with Temasek and there was no intention at this stage to reduce the company 2% remaining holding in Anglo.It will also support the develop ment of the crucial agriculture sector, investing in the agriculture value chain from cheap replica handbags agricultural inputs to downstream opportunities in processing, storage and logistics. Tana reportedly already owns a quarter high quality replica handbags china of Promadiso, a large consumer goods company in Nigeria.Temasek MD Nagi Hamiyeh is enthusiastic about partnering the Oppenheimers, against the background of Africa growing population and the emergence of a middle class with an increasing disposable income within African domestic economies.The involvement of E Oppenheimer Son with Stockdale Capital also introduces deep South African history in that Stockdale Street in Kimberley was originally the headquarters of BarneyBarnato Kimberley Central Diamond Mining Com pany and one of the elements used by Sir Ernest Oppenheimer to mould De Beers into the world diamond leader high quality replica handbags china it became, underpinned by the Anglo American mining giant that he also founded in replica louis vuitton handbags 1917.Today, Stockdale Street Limited reportedly advises the Oppenheimer family private equity portfolio and Stockdale Capital is the family South African investment Designer Louis Vuitton Replica Handbags vehicle.Nicky Oppenheimer reportedly told former Anglo American public relations executive and Miningmx journalist Brendan Ryan that he and Jonathan intended using the $5.1 billion proceeds from the sale of the Oppenheimer family stake in De Beers to pursue projects in South Africa and Africa.Although the Oppenheimers have a two year diamond restraint clause in the agreement with Anglo, it is reported that E Oppenheimer Son exploration and mining aspiration could include a return to the diamond mining business in time.The family reiterate that they see Africa and South Africa as places to look high quality designer replica handbags wholesale at it in terms of business opportunities and we will continue to operate out of Johannesburg Sir John Parker, who two weeks high quality designer replica handbags ago put the offer on the table, said that Fake Louis Vuitton Replica Bags Anglo looked forward to building strong links with De Beers sight holders, its government joint venture partnerships in Botswana and Namibia, and its black economic empowerment partners in South Africa.The offer could not have been much of a surprise given this London Sunday Times headline of December 21, 2010: American plotting De Beers takeover Oppenheimer Son MD James Teeger spoke of the bulk of the proceeds of the quickly consummated transaction being earmarked for investment on this continent and, while the Oppenheimers had been restrained from investing in diamonds for a couple of years, there was no other constraint.The shares of Anglo American rose on the news that the diversified major has agreed to buy the Oppenheimer family 40% interest in De Beers for $5.1 billion cash.sparkling purchase. We believe that Anglo has struck a very good deal for itself, was Liberum Capital reaction from London, as Anglo shares rose 3.38% in Johannesburg before noon to more than R306 a share.very, very attracted to the diamond industry, Anglo CEO Cynthia Carroll told Mining Weekly from London in a media conference call.De Beers pioneered a strategy to combine diamond mining, trading and marketing. It expanded in the retail sector, opening outlets around the world. Most recently it said it plans to open more outlets in China and the Gulf region.It is in the process of moving its historic trading headquarters from London to Botswana.In her answers to the media, Carroll appeared warmest to the prospect of a possible initial De Beers retail expansion under the new aaa replica designer handbags watch.Ten years ago, De Beers Diamond Jewellers was established as an independently managed and operated company by LVMH Mo Hennessy Louis Vuitton, the world leading luxury goods company, and De Beers SA, and currently has a retail network.No other diversified rival mining major can match what Anglo will have in De Beers diamond market share, which Rio Tinto puts at 39%.