Blackstone: Blackstone acquires International Gemological Institute for $535 million


MUMBAI: In a landmark transaction with significant ties to India, Blackstone, the world’s largest alternative wealth manager, has acquired the International Gemological Institute (IGI) for $535 million. This acquisition not only strengthens Black Stones position in the gemology industry, but also underscores India’s central role in the deal.
Blackstone managed private equity funds acquired IGI from Shanghai Yuyuan Tourist Mart, a subsidiary of Fosun Roland Loriea member of the founding family.
Founded in Antwerp, Belgium in 1975, IGI has established itself as the world leader in the independent certification of diamonds, gemstones and jewellery. With 29 laboratories and 18 gemology schools in 10 countries, IGI has an extensive international presence. Specifically, it is the first gemological laboratory in the world to hold ISO accreditation for both natural and laboratory-grown diamonds.
The management team of IGI India was enthusiastic about the acquisition. They highlighted the joint efforts between Blackstone and IGI to capitalize on growing consumer demand and expand their market reach.
Blackstone said the acquisition of IGI represents an important milestone in their expansion plans and reinforces India’s prominent position in the global gemology landscape.
Mukesh Mehtaa senior executive of Blackstone’s private equity group, expressed enthusiasm about the acquisition, stating, “IGI has been at the forefront of certifying natural, lab-grown and colored diamonds and has grown into a global leader, instilling confidence in manufacturers . Retailers and consumers around the world. We are excited to bring Blackstone’s expertise to the company and leverage our operational prowess, technological advances and track record of building thriving businesses to support IGI’s expansion on a global scale.”

Source link


Please enter your comment!
Please enter your name here

Share post:




More like this

Productive assets and useful flows

Assets are property. These are devices, skills,...

Meta found liable as court blocks firing of moderators

A Kenyan court has ruled that Meta is...

How to Change Careers: A Step-by-Step Guide

Changing careers...

RBI draws up plan to make non-bank e-payments safer

MUMBAI: Have you ever downloaded an app that...