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Bloomberg
Fosun International Ltd. is weighing a sale of International Gemological Institute in a deal that could value the diamond-grading firm at about €200 million ($215 million), according to people with knowledge of the matter.
The Chinese conglomerate is working with Deutsche Bank AG on the potential divestment of the Antwerp, Belgium-based institution, said the people, who asked not to be identified as the information is confidential.
Considerations are preliminary and Fosun may decide to keep the asset, the people said. A spokesperson for Deutsche Bank declined to comment, while representatives for Fosun and Shanghai Yuyuan Tourist Mart Co., the Fosun unit that owns an 80% stake in IGI, didn’t immediately respond to requests for comment. Backed by billionaire Guo Guangchang, Fosun is one of China’s largest non-state conglomerates with businesses including consumer, health care, property, financial services and mining. The firm is in the midst of trying to bolster its balance sheet.