Blackstone acquires IGI for an enterprise value of $525 million
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IGI is headquartered in Belgium but depends on India for most of its business and profits. According to an official statement, Blackstone has acquired 80 per cent stake in the company from Shanghai Yuyuan Tourist Mart (Group). The rest of the stake is taken from Roland Laurie.
Private equity major Blackstone on Sunday said it has acquired International Gemological Institute (IGI) at an enterprise value of over $525 million. IGI is headquartered in Belgium but depends on India for most of its business and profits. According to an official statement, Blackstone has acquired 80 per cent stake in the company from Shanghai Yuyuan Tourist Mart (Group). The rest of the stake is taken from Roland Laurie.
The company is a global leader in the independent certification of diamonds, gems and jewelery with 29 laboratories. Of these, 18 laboratories are located in India. The institute has 18 gemology schools in 10 countries. IGI Senior Managing Director Mukesh Mehta said the institute is the global market leader in certification of natural diamonds, lab-grown diamonds and colored stones and is trusted by manufacturers, retailers and consumers around the world.
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