Private equity funds managed by Blackstone have acquired the International Gemological Institute (IGI) from Shanghai Yuyuan Tourist Mart (Group) Co., Ltd, a subsidiary of Fosun, and Roland Lorie of the founding family. Sources indicate that the sale price approximately $530 million, although this is yet to be confirmed. IGI’s Impact on the Jewellery Industry IGI, founded in 1975 in Antwerp, holds the title of the world’s first gemological laboratory to hold ISO accreditation in both natural and lab-grown diamonds. With a global presence of 29 laboratories and 18 schools of gemology across 10 countries, it has emerged as a leader in…

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