London-listed Botswana Diamonds (BOD) reports that Okwa Diamonds, its joint venture (JV) with Vast Resources, has conditionally agreed to acquire 100% of the share capital in Gem Diamonds Botswana (GDB) for $4-million in cash and payable in two instalments.

The acquisition of GDB is conditional and dependant on relevant regulatory and competition authority approvals in Botswana and is expected to complete during the latter part of this year.