Gemfields proposes acquisition of luxury jewellery company

Gemfields, a gemstone miner and marketing company, is proposing to acquire the entire issued share capital of luxury jewellery company Fabergé by way of merger in the Cayman Islands, in a bid to create 'a globally recognised coloured gemstone champion'.

Gemfields, a gemstone miner and marketing company, is proposing to acquire the entire issued share capital of luxury jewellery company Faberg by way of merger in the Cayman Islands, in a bid to create 'a globally recognised coloured gemstone champion'.

Under the deal, the two companies will merge to form a single enlarged company. The consideration will be satisfied by the issue of as many as 214m new ordinary shares, equal to about 39.6% of the enlarged issued share capital. This values Faberg at around $142m (£89m).

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