Botswana has appointed asset management firm Lazard as a financial adviser as it moves to strengthen its position in diamond miner De Beers, shortly after securing a $12bn investment pledge from Qatar.
According to an FT report on Wednesday, the Southern African nation’s government has engaged the French investment bank alongside Swiss boutique lender Compagnie Bancaire Helvétique (CBH) to advise on the potential acquisition of all or part of the De Beers group.
Lazard advises on mergers & acquisitions, restructuring and capital raising. CBH provides private banking and financial advisory services, including cross-border transactions.
De Beers, majority-owned by Anglo American, is a globally dominant player in diamond mining, with operations in Botswana.
Qatar’s $12bn investment pledge, announced earlier this month, is expected to bring new capital into Botswana, potentially supporting the mining sector and the wider economy.
The appointment of Lazard and CBH as advisers points to the scale of the plans, which could affect De Beers’ ownership structure.
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