ALROSA’s board approves acquisition of diamond polisher Kristall

MOSCOW, May 4 (PRIME) -- The supervisory board of Russian diamond mining giant ALROSA has approved acquisition of 100% in state-owned diamond polisher Kristall, the company said in a statement on Friday.

The board ordered ALROSA CEO Sergei Ivanov to prepare suggestions for technical specifications of estimating Kirstall’s price, and to send them to the Federal State Property Management Agency and to the Finance Ministry.

In March, Deputy Finance Minister Alexei Moiseyev said that the ministry was considering privatization of 100% in Kristall. The plant specializes in mass production of polished diamonds of the triple excellent class.

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