The long-awaited sale of De Beers could easily take 18 months to clear regulatory hurdles, says Duncan Wanblad, CEO of parent company Anglo American, once a deal is finally agreed.

Wanblad has, however, insisted that the company is not exclusive with any consortium and that more than one group remains involved in the process.

The strategic divestment of De Beers by Anglo American highlights the persistent friction between corporate portfolio optimization and multi-jurisdictional regulatory compliance.

Initiated in May 2024 as part of a sweeping restructuring, Anglo’s decision to offload its loss-making diamond unit was designed to sharpen capital allocation around core, high-margin assets like copper and iron ore.

However, CEO Duncan Wanblad’s candid assessment underscores a critical transactional reality: securing a signed agreement is merely the precursor to a prolonged regulatory clearance phase.

While Anglo American maintains a target to agree on deal terms by the end of 2026, market expectations regarding transaction completion require re-calibration. Antitrust approvals across key diamond consumption and trading hubs—most notably the United States, China, and the European Union—could extend the execution window by up to 18 months post-signing.

Given De Beers’ historical market concentration and influence across global supply chains, international competition authorities will undoubtedly subject any structural change in ownership to intense scrutiny.

 Although the Global Diamond Consortium, spearheaded by former De Beers managing director Gareth Penny, has positioned itself as a primary contender, Anglo American has deliberately avoided granting exclusivity. While maintaining multiple bidding tracks preserves commercial leverage, it delays the precise regulatory preparation required for closing. Formal filings cannot be finalized until the specific jurisdictional footprint and capital background of the acquiring consortium are locked in.