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Consortium Led By Former De Beers CEO Gareth Penny Selected As The Preferred Bidder To Acquire De Beers

Botswana is expected to play a pivotal role in the transaction. The country, together with Namibia, Angola and other shareholders, already owns a 15% stake in De Beers

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A consortium headed by former De Beers CEO Gareth Penny has been selected as the preferred bidder to acquire De Beers, according to Botswana’s Minister for State President, Defence and Security, Moeti Mohwasa.

Speaking on the development, Mohwasa said Anglo American conducted a competitive sale process involving three shortlisted bidders before identifying the Global Diamond Consortium as its preferred choice.

Anglo American announced plans to divest De Beers in May 2024 as part of a broader restructuring strategy, driven by prolonged weakness in the diamond market and other business priorities.

The sale process has attracted significant interest from industry leaders and investors. Among those previously linked to the bidding were former De Beers CEO Bruce Cleaver, Australian mining executive Michael O’Keeffe, Indian billionaire Anil Agarwal, and Indian diamond companies KGK Group and Kapu Gems.

Botswana is expected to play a pivotal role in the transaction. The country, together with Namibia, Angola and other shareholders, already owns a 15% stake in De Beers and retains important rights under the shareholder agreement. Mohwasa emphasized that Botswana has the flexibility to either join the preferred bidder as a strategic partner or exercise its pre-emptive rights independently or with another investor.

Industry observers believe the eventual owner will seek to preserve De Beers’ vertically integrated business model, spanning diamond mining, trading and global natural diamond marketing, while positioning the company to benefit from a potential recovery in natural diamond demand and prices.

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Sabyasachi, The Metropolitan Museum Of Art Partnered For A Multi-Year Collaboration

The Line Bridges Historic Met Artifacts With Modern Luxury, Weaving Human Themes Of Love, Mortality, and Family Into Extravagant High Jewelry.

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Nearly two decades after making his New York runway debut, renowned Indian designer Sabyasachi Mukherjee is set to return to New York Fashion Week on September 15, 2026, unveiling the first chapter of a multi-year collaboration with The Metropolitan Museum of Art (The Met).

The partnership will debut with an exclusive six-piece high jewellery collection inspired by the museum’s extraordinary holdings of art, sculpture and material culture. The collection reflects Sabyasachi’s belief that history is not static, but continues to evolve as it travels across cultures and generations.

Comprising three necklaces, two wrist cuffs and a pair of earrings, the collection draws from Byzantine and Roman influences while translating historic iconography into contemporary luxury. Crafted in 18k and 22k gold, the pieces feature round brilliant-cut diamonds alongside jade, tourmaline, lapis lazuli, jasper and onyx.

The designs take inspiration from Imperial Roman statuary, ancient medallions and religious artefacts housed in The Met. Among the standout creations is a pendant necklace based on an Imperial Roman marble sculpture depicting a family, inspired by a 2nd–3rd century CE Roman funerary relief from Thrace. Another notable piece is an asymmetrical tiger-claw necklace influenced by the intricate decoration of a 12th-century casket.

Rather than simply recreating historical objects, Sabyasachi reinterprets them through the lens of modern high jewellery, weaving universal themes such as love, mortality and family into each creation.

The New York presentation marks the beginning of a long-term creative dialogue between Sabyasachi and The Met, bringing together Indian design sensibilities and one of the world’s most celebrated museum collections in a collaboration that bridges heritage, craftsmanship and contemporary luxury.

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