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Gitanjali Gems acquires balance 10% stake of Giantti Italia S.R.L

20 Jun 2011 Evaluate

Gitanjali Gems has acquired the remaining 10% stake of Giantti Italia S.R.L, a company based in Milan, Italy. The company has acquired the said stake from Ambio S.R.L. on June 16, 2011 and by virtue to this acquisition Giantti Italia S.R.L. has become a wholly owned subsidiary of the company.

The said acquisition is aimed by the company at growth of the branded jewellery business overseas and gain the designing and branding concepts expertise from Italy.

Recently, Gitanjali Gems had officially acquired the assets of DIT Group S.p.A, Italy which is engaged in the Jewellery manufacturing and sale business. This company along with the trust constituted as operating vehicle that is 'BLU S.r.l.', a company governed by Italian law with headquarters in Milan, Via Podgora no. 16, registered with the Business Register of Milan, tax code and VAT reg. no. 06704710968.

Gitanjali Group's has operational presence starting from sourcing of rough diamond, cutting, polishing and distributing, to jewellery manufacturing, which includes designing, mould making, wading, casting, sprue grinding, filing, polishing and setting. The company was first to offer diamond studded jewellery at reasonable prices.

Peers
Company Name CMP
Titan Co 4480.10
Kalyan Jewell.India 415.00
Rajesh Exports 117.03
Senco Gold 333.15
Thangamayil Jeweller 4125.65
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