Botswana Diamonds expects to list on London's Alternative Investment Market (AIM) in January 2011, diamond company chairman John Teeling said Friday.

The AIM listing comes are part of Lucara Diamond's takeover of African Diamonds, valued at C$82 milion, which African Diamonds' board of directors agreed to in August. The deal is expected to close in January 2011.

Under the terms of the agreement, Lucara acquired control of Botswana Diamonds' AK6 diamond mine, while African Diamonds shareholders will gain 26.57% of Lucara.

Shares of African Diamonds can be traded until December 17, 2010.