By: Creamer media

The gemstone miner on August 11 announced the planned sale of the brand for $50-million, comprising an initial payment of $45-million and a further $5-million in royalty payments.

At the time, Gemfields noted that the sales proceeds would provide additional working capital for the group, while a new processing plant is brought into operation at the Montepuez ruby mine, in Mozambique, and as mining at the Kagem emerald mine, in Zambia, is expanded.

“It’s been a privilege to support Gemfields on this transaction which represents a milestone in its continued evolution. We’re proud to have worked closely with the Gemfields team to help deliver a successful outcome on what has been a high-profile and widely reported transaction," comments integrated legal and business services provider DWF corporate director Jemil Visram.

DWF adivsed Gemfields on the sale of Fabergé, a well-known manufacturer of jewellery on objet d'art.

“The DWF team has been a trusted adviser throughout this process, providing sharp legal insight and clear commercial guidance at every step. Their understanding of our business and the discretion with which they handled this high-profile transaction were both deeply valued. We’re grateful for their support in delivering this important outcome,” says Gemfields CEO Sean Gilbertson.