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Blackstone Set to Buy IGI

29 Jun 2023

IGI (International Gemological Institute) has a global chain of 20 gemological laboratories. Reports say a US private equity firm is acquiring IGI for up to $550 million

US private-equity firm Blackstone is on the verge of acquiring the International Gemological Institute (IGI) for up to $550 million, according to a report in the Indian press.

The investment group is expected to sign a binding agreement with sellers Fosun International and IGI’s other shareholders soon, The Economic Times said.

The proposed deal’s enterprise value — which includes debt — is $500 million to $550 million, according to the report.

Headquartered in Antwerp, IGI operates 20 laboratories and 15 gemology schools around the world. China’s Fosun has owned 80% of the organization since acquiring the stake for $108.8 million from shareholders Roland Lorie and Marc Brauner in 2018. The Lorie family, which founded IGI, still holds the remaining 20%.

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