PARIS, March 23 Anglo American's diamond
specialist De Beers has bought the 50 percent stake held by
French luxury goods group LVMH in De Beers Diamond
Jewellers for an undisclosed amount, taking full ownership of
the retail operation.
"More fully integrating the De Beers Diamond Jewellers brand
and store network will enable us to deliver an even more
differentiated diamond offering, alongside our fast-growing
diamond brand Forevermark," De Beers Group chief executive Bruce
Cleaver said in a statement.
De Beers Diamond Jewellers' retail network comprises 32
stores in 17 countries. This includes a growing business in
greater China, an established presence in London and Paris, and
a new flagship location in New York, the company added.
LVMH had no comment to make on the transaction.
(Reporting by Dominique Vidalon and Pascale Denis; Editing by