Swiss luxury group ‘interested in buying’ diamond giant De Beers
Swiss luxury goods group Richemont is reportedly part of a consortium that aims to buy South African diamond giant De Beers.
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Swiss luxury group ‘interested in buying’ diamond giant De Beers
According to Bloomberg, the Richemont is in talks with the major United States jewellery retailer Signet Jewelers to join a consortium that intends to acquire the South African company.
The entity in question, the Global Diamond Consortium (GDC), is reportedly in a very strong position in the acquisition negotiations, according to Bloomberg, which cites several sources close to the sale process.
The GDC is led by former De Beers CEO Gareth Penny and is said to have been designated as the preferred bidder in July by De Beers’ owner, the British firm Anglo American, which holds an 85% stake in De Beers and has stated its intention to divest as early as 2024.
The consortium also includes the governments of Namibia and Angola, as well as major diamond producers.
The sale of De Beers comes at a time when demand for precious stones is recovering from one of the deepest crises the sector has ever seen, said Bloomberg.
When contacted by the agency, neither GDC, Signet Jewelers nor Richemont confirmed any interest in acquiring De Beers.
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