A raft of top class law firms are acting on this ongoing deal, which has rewritten the book on complex transactions. Linklaters has had a head start as its counts Anglo American, a UK listed mining company, and De Beers among its longterm clients. It also has a longstanding relationship with Maitland & Co, adviser to Anglo American. Anglo American and Central Holdings, a holding company for the Oppenheimer family, and Debswana Diamond Company, owned by the Botswana government, will undertake the leverage buyout of De Beers for £12.09bn. The bidders are creating a newco, DB Investments, of which Anglo American and Central Holdings will hold 45 per cent each while Debswana Diamond Company will own the remaining stake. But one of the main objectives of this deal is unlocking a cross-holding that Anglo American and De Beers carry in each other. Linklaters corporate partner David Cheyne says that the market is not keen on cross-holdings as it makes both companies difficult to take over and has created a depression in their share prices.