Rajesh Exports buys Swiss firm for $400 million
The acquisition has been part financed by Credit Suisse
By : DC Correspondent
Update: 2015-07-28 01:52 GMT
MUMBAI: Rajesh Exports Ltd, India’s largest gold jewellery exporter, on Monday announced the acquisition of Switzerland-based Valcambi, one of the world’s largest precious metal refining company in an all cash deal with a total investment of $400 million.
With this acquisition, Rajesh Exports will become an integrated player covering precious metal refining and gold jewellery making. The acquisition has been part financed by Credit Suisse and remaining through the company’s internal accruals.
“The acquisition will help us establish a firm presence in all segments of the value chain right from gold refining to end retailing of gold products,” said Rajesh Mehta, chairman, Rajesh Exports. This will also help the company to scale up its refining capacity from the present 200 tonnes to 2,200 tonnes.