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Global Private Equity Firms Eye Control of Diamond-Grading Giant IGI in a Deal Worth up to $300m.


Global private equity firms, including Blackstone, CVC Capital Partners, and Goldman Sachs, are reportedly considering buying a controlling stake in the International Gemological Institute (IGI), in a deal that could value the company at anywhere between $250 million to $300 million.


The Antwerp-based IGI, founded in 1975, is the world's largest independent diamond-grading firm and provides grading certifications for diamonds, coloured gemstones, and jewellery for clients worldwide. The institute operates 20 laboratories globally and 14 schools of gemology, training professionals in the diamond industry. The sell-side mandate for the potential transaction has been given to Deutsche Bank by Fosun International, which acquired an 80% stake in IGI in 2018. It is expected that the transaction, if it goes ahead, will draw funds from India allocations of the private equity firms, with India being a significant part of IGI's operations and client base.




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