Swiss Richemont S.A. and the American retailer Signet Jewelers Ltd. They are negotiating with the Global Diamond Consortium (GDC) regarding participation in the consortium for the acquisition of the diamond mining company De Beers. This is reported by foreign media.
Richemont, which is a major end user of De Beers diamonds, and Signet can count on small shares, taking into account participation in the consortium. Namibia and Angola, as well as several major diamond producers.
In July, the GDC consortium became the preferred bidder to buy De Beers from mining company Anglo American Plc and is currently negotiating with the Government of Botswana to increase its stake to 25%. The Government of Botswana owns 15% of De Beers shares, while Anglo American holds the majority of 85%.
Anglo American bought out a controlling stake in De Beers in 2011 for $13 billion, and starting in 2024 sought to sell assets after rejecting a deal with BHP Group worth $50 billion. In just three years, Anglo has devalued the business three times and is ready to sell De Beers for $1 billion.
The industry has been significantly affected by falling demand in China and increased competition from artificial gemstones grown in the laboratory.
Richemont S.A. is a Swiss holding company for the production and sale of luxury goods under the brands Vacheron Constantin, Cartier and Van Cleef & Arpels. The headquarters is located in Bellevue (canton of Geneva, Switzerland).
Signet is one of the largest jewelry retailers under the Zales, Jared and Kay brands. The headquarters is located in Hamilton, Bermuda.
De Beers Group is an international corporation engaged in the extraction, processing and sale of natural diamonds, as well as the production of synthetic diamonds for industrial purposes. De Beers produces 70% of diamonds in Botswana and owns mines in Canada, Namibia and South Africa. The headquarters is located in London (UK).
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