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Gemfields plc to buy out Fabergé
The deal is expected to be worth $142 million
By: Diamond World News Service
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Nov 23 2012 6:25PM
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Reference: 7426  

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Gemfields plc plans to buy out Fabergé Limited. The deal is expected to be an all share deal worth$142 million. If the Fabergé investors approve the deal, it will give Gemfields 100 percent ownership of Fabergé. Also, for the acquisition consideration, there will be 214 million new ordinary shares of Gemfields stock issued to Faberge shareholders in proportion to their holdings in Faberge, reports suggest.

Fabergé, founded in 1842 by Russian jeweler Peter Carl Fabergé, is renowned for its offerings of jeweled eggs. It was later bought by Pallinghurst investment company.

With the acquisition of Fabergé, Gemfileds is citing an opportunity to be a lead player in the coloured gemstone market and also gain exposure to the retail segment, as Fabergé is renowned as a coloured gemstone retailer in the hard luxury retail segment.

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