Nov. 21 - Jewellery maker, Faberge, has been valued at $142 million ahead of its sell-off from South African firm, Pallinghurst Resourses. Precious stones miner, Gemfields is in the frame for an all-share deal. Joanne Nicholson reports.
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142 million dollars - that's today's dazzling daily digit in Europe.
It's what Faberge - famous for it's jewelled eggs in Tsarist-era Russia - has been valued at.
Nowadays its jewels adorn Hollywood celebrities.
And precious stones miner, Gemfields, wants to take on a majority stake in it.
Pallinghurst Resources is selling Faberge - but it will remain a 49 percent shareholder.
Its stock has fallen by a third this year - thanks to the economic crisis scuppering demand for luxury items.
But Faberge - reborn in 2009 after a fight over its name brought business to a standstill - has ambitions to open two new shops a year over the next decade.
News of the sale gave a boost to Pallinghurst's share price but Gemfields' stock fell.
Shareholders will vote on the all-share deal next month.
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