In a bid to expand its global footprint, Jewellery exporter and retailer Rajesh Exports is planning acquisition in the Middle East. In this regard, the company’s board will meet on June 13, 2016.
The acquisition has been proposed to further expand the global footprint of the company in the same line of business after the successful acquisition of Valcambi, Switzerland-based world's largest gold refinery. However, Rajesh Exports did not name the target company.
Earlier in July 2015, Rajesh Exports fully acquired Valcambi for $400 million (approx Rs 2,560 crore) in an all cash deal. Valcambi was owned by Newmont mining corporation and a group of Swiss investors.
Rajesh Exports with its undivided focus and expertise has grown to be the largest gold jewellery manufacturing company in the world. It is also the lowest cost gold Jewellery manufacturing company in the world.