Business Standard

Blackstone buys International Gemological Institute at $570 mn valuation

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

Blackstone Inc.
Premium

Blackstone Inc.

Dev Chatterjee Mumbai

Listen to This Article

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.
 
It has 18 gemology labs in India and depends on its operations here for a

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 21 2023 | 1:56 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com