De Beers shareholders agree to rights issue

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De Beers shareholders agree to rights issue

LONDON, December 1, 2009 – The investors in De Beers, the world’s biggest diamond producer, have agreed to a rights issue of up to $1 billion to cut debt, the company said.
De Beers, 45 percent owned by Anglo American, cut its production after a slide in diamond prices during the economic downturn and posted a 99 percent drop in first-half net profit.