International Gemological Institute Purchased by Chinese Company

Chinese conglomerate Fosun International Ltd. has acquired 80 percent of diamond grading lab International Gemological Institute (IGI).

Terms were not disclosed. The transaction was done through Yuyuan Inc., Fosun’s holding company for the consumer sector.

The Lorie family will control 20 percent of the company, and current CEO Ronald Lorie will continue to manage the business. Roland is son of lab cofounder Marcel.

Source JCK Online: International Gemological Institute Purchased by Chinese Company