Blackstone buys diamond certification company IGI for $570 million.
Originally Published 2 years ago — by Reuters
Blackstone has acquired International Gemological Institute (IGI) from Fosun and the Lorie family for about $530m. The majority of IGI's revenue and profits come from India, where it has 29 laboratories and 18 schools of gemology. India's jewellery market is worth $78.5bn, and IGI has become a global market leader in the certification of natural diamonds, lab-grown diamonds, and coloured stones.