World’s top diamond producer by output Alrosa (MCX:ALRS), has got approval from its board to acquire Russian polisher Kristall, the country’s largest and one of the world’s biggest diamond cutting firms.
Alrosa’s chief executive Sergei Ivanov has been asked to submit technical specifications for estimating the target’s price and so make an offer, Prime Business News Agency reported.
It the deal goes through, the Russian diamond giant would become a stronger competitor to Anglo American’s De Beers, the world’s largest producer by value.
More to come…
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From:: Infomine