This vote marks the end of an era for De Beers, the world's largest diamond miner and arguably South Africa's most prestigous company. In the short-term the deal is expected to give a boost to the South African economy. The inflow of an estimated 3.5 billion dollars to finance the takeover should strengthen the country's struggling currency, the Rand. But the takeover consortium plans to turn De Beers into a private company and the withdrawal of such a famous name as De Beers will be a blow to the South African stock exchange which is struggling to compete in the global market.

marks - indicates a particular event

In the short-term - within a short period of time

inflow - the movement of something from one place into another; (in this case) money coming into South Africa

finance - provide money for something

takeover - gaining control of a company

struggling - if a currency is struggling it has a low value against other currencies

consortium - a group of people or companies who have agreed to work together

a blow - if something is a blow it will make something else less likely to succeed

The takeover consortium is led by another South African mining giant, Anglo-American, the wealthy South African mining and minerals dynasty - the Oppenheimer family - and the Botswanan government. And the deal is expected to increase the influence of the Oppenheimer family in both companies. De Beers which was founded by the explorer, Cecil Rhodes, in 1888 has been no stranger to controversy in its history, particularly over its manipulation of the diamond market. But it's also been under pressure to adapt as that market has come under increasing international scrutiny in recent years.

giant - very big

dynasty - a series of rulers of a company (or country) who are all from the same family

founded - started

no stranger to controversy - often involved in major disagreements with other people or companies

manipulation - control of something to your own benefit

scrutiny - detailed study