Russia’s mining giant Alrosa plans to acquire Kristall Production Corporation, the country’s largest diamond cutting and polishing company. This, according to Alexey Moiseev, Russia’s Deputy Finance Minister, who was quoted in reports cited by Rough & Polished.
Moiseev said that the deal will be completed by the end of the third quarter of 2018, adding that the purchase price will be determined by “a government order containing a market valuation of Kristall”.
Kristall Production Corporation was established in 1963. It cuts around 300,000 carats every year, generating “revenue of around $200 million”. It is currently state-owned, and is set to be privatized by 2019.
