Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

Today

GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

ALROSA’s Supervisory Board approves acquisition of Smolensk-based Kristall

26 september 2019

alrosa_logo.jpgAt its meeting on September 24, the ALROSA Supervisory Board approved the acquisition of a 100% stake in Joint-Stock Company “Production Corporation “Kristall” from the Russian Federation represented by the Federal Agency for State Property Management (Rosimushchestvo) on the terms set forth in the decree of the Russian Government.
According to the previously approved Russian Government decree, the value of the 100% equity interest in Kristall was determined on the basis of an independent appraiser's report at RUB 1,886 million.
ALROSA's Supervisory Board assigned the company’s Chief Executive Officer to enter into a sale and purchase agreement for Kristall's shares under the conditions proposed by Rosimushchestvo. 
By the end of the year, the management is to prepare and submit an action plan to operate and develop Kristall as part of ALROSA Group to the Supervisory Board for consideration. 
“Despite the fact that ALROSA is currently a key supplier of rough diamonds to Kristall, it accounts for as little as 0.5% of ALROSA’s total sales of rough diamonds. The deal value is less than 1% of ALROSA’s net assets and, according to our estimates, the purchase price will not exceed Kristall’s net assets at the date of the transaction,” says Alexey Philippovskiy, Deputy CEO of ALROSA. The sale and purchase agreement is expected to be signed by the end of September, with the deal to be closed in the first half of October. After that, we will start developing a plan to integrate Kristall into ALROSA Group.”