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Blackstone to acquire IGI for US $550mn


Blackstone, the world's largest private equity firm is likely to sign an agreement with Fosun and IGI's other shareholders by the end of this week


Blackstone is ready to buy International Gemological Institute (IGI), the biggest independent diamond-grading company in the world, . The company is owned by China Fosun International, the Lorie family that founded the company, and various other small shareholders.


Citing people aware of the details of the deal, the newspaper reported that the transaction is likely to be finalised at an enterprise value of $500-550 million. IGI owes its lenders $150 million.


IGI certifications are recognised around the world. Notably, India is the world's biggest cutting and polishing hub and accounts for 90 per cent of stones sold globally, primarily from Surat, Gujarat.

Source:ETBlackstone, the world's largest private equity firm is likely to sign an agreement with Fosun and IGI's other shareholders by the end of this week


Blackstone is ready to buy International Gemological Institute (IGI), the biggest independent diamond-grading company in the world, . The company is owned by China Fosun International, the Lorie family that founded the company, and various other small shareholders.


Citing people aware of the details of the deal, the newspaper reported that the transaction is likely to be finalised at an enterprise value of $500-550 million. IGI owes its lenders $150 million.


IGI certifications are recognised around the world. Notably, India is the world's biggest cutting and polishing hub and accounts for 90 per cent of stones sold globally, primarily from Surat, Gujarat.


Source:ET


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