The world’s largest alternative asset manager Blackstone on Sunday acquired jewellery certification firm International Gemological Institute (IGI) in a $570-million (over Rs 4,700 crore) deal.
Shanghai Yuyuan Tourist Mart (Group), a subsidiary of China-based conglomerate Fosun, and Roland Lorie, who belongs to the founding family, sold their 80 and 20 per cent stake, respectively, in the deal that had $35-million cash outgo.
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.
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