Gemfields, which mines for emeralds and amethysts in Zambia and for rubies in Mozambique, had already received a buyout offer from largest shareholder Pallinghurst Resources.
Emeralds and rubies miner Gemfields (LON: GEM) may become the centre of a bidding war as China’s Fosun International has approached the company with an attractive offer, which comes only a month after the gems producer rejected a bid from its largest shareholder.
The proposal by Fosun Gold, a unit of Fosun International, values the London-listed company at £225 million ($288m) , while South African private equity group Pallinghurst attempted to buy Gemfields in May at its current valuation of £195 million ($250m) .
“Gemfields represents a compelling opportunity to continue to develop a leading gemstone producer with a dominant position in both global emerald and ruby production and a strong consumer brand, ” Fosun said.
