Long standing buyer of the Oppenheimer family’s 40 percent stake in De Beers,  Anglo American has finally completed the acquisition following the final regulatory approval from South Africa’s Minister of Mineral Resources in July.

The global miner, Anglo American which already had 45 percent stake in De Beers announced it paid $5.2 billionfor the acquisition, raising its total stake to 85 percent.

In November 2011, the Oppenheimers announced the stake sale would go for $5.1 billion but the eventual acquisition has cost Anglo $5.2 billion due to a few adjustments which were made and allowed within the context of the sale agreement.

Nicholas F. Oppenheimer is a South African businessman with a $6.8 billion valuation. Nicky, as he is fondly called, is the chairman of De Beers and he also has large financial interests in the diversified mining company Anglo American.