SARS commissioner Pravin Gordhan said that the Oppenheimer family/Anglo Debswana consortium had met almost all the conditions required for approval of the buyout and that the deal was "basically OK". The deal has Reserve Bank approval which, together with SARS approval and agreement on the underwriting of the senior debt facilities, would clear the way for a formal bid for shareholder approval. Should the deal go through in the near future, it will be one of the last unbundling exercises between a local and foreign concern which does not attract STC. If the deal did attract the proposed STC, De Beers would have to raise R1.2bn for the Receiver of Revenue at the time of the unbundling.
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