Connect with us

Blackstone Acquires Gem Certification Leader IGI For $570 Mn: Report

Latest

Blackstone Acquires Gem Certification Leader IGI For $570 Mn: Report


Blackstone has acquired International Gemological Institute (IGI) from a subsidiary of Fosun, and Roland Lorie (Shanghai Yuyuan Tourist Mart (Group)). The company struck an acquisition deal worth USD 570 million, according to media reports.

Deutsche Bank, Ernst & Young, Deloitte and Freshfields Bruckhaus Deringer acted as advisors to Yuyuan and Roland Lorie on the transaction. KPMG, Simpson Thacher & Bartlett and Cyril Amarchand Mangaldas acted as advisors to Blackstone.

Founded in 1975 in Antwerp, IGI is a global leader in independent certification of diamonds, gemstones and jewellery, with a global footprint of 29 laboratories and 18 schools of gemology across 10 countries.

IGI is the largest certification player globally for lab grown Diamonds and second largest certification player globally for Natural Diamonds. India is one of the largest geography’s for IGI.

For 48 years, IGI has provided the fine jewelry community and consumers with a broad range of services including natural and laboratory grown diamond reports, coloured stone grading and origin reports, as well as jewelry identification and appraisal reports.

With the increase of lab grown diamonds in the marketplace, IGI screens millions of natural and lab grown diamonds in order for the industry and consumers to receive the product they expect.

“IGI has spearheaded the certification of natural diamonds, lab-grown diamonds, and colored stones, becoming a global market leader and providing confidence to manufacturers, retailers, and consumers around the world. We are bringing the best of Blackstone to the business – our operational expertise, capabilities in technology, and global track record in building successful businesses to help the company expand its global footprint,” said Mukesh Mehta, a Senior Managing Director in Blackstone Private Equity Group.






Source link

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

More in Latest

To Top