Gemfields is selling its stake in Faberg\u00e9, the iconic jewellery brand known for its Imperial Eggs.\u00a0<\/p>\n\n\n\n
Despite being based in Guernsey and primarily mining in Mozambique and Zambia, the group\u2019s primary listing is on the JSE. <\/p>\n\n\n\n
In 2007, Gemfields bought the Faberg\u00e9 trademarks, licences, and associated rights, which reversed the brand’s fragmentation over the last century. <\/p>\n\n\n\n
However, the group has now signed an agreement to sell its entire interest in wholly owned Faberg\u00e9 to SMG Capital for $50 million (R900 million).<\/p>\n\n\n\n
SMG Capital is a US-based investment company entirely owned by Sergei Mosunov, a tech entrepreneur and venture capitalist. <\/p>\n\n\n\n
$45 million is payable by SMG Capital on the completion date, which is expected on 28 August 2025. <\/p>\n\n\n\n
The remaining $5 million will be through quarterly royalty payments at a rate of 8% of Faberg\u00e9\u2019s revenue. <\/p>\n\n\n\n
The sale proceeds will provide additional working capital while the new processing plant at Montepuez Ruby Mining in Mozambique is operationalised. <\/p>\n\n\n\n
The group will also see that mining at Kagem in Zambia is progressively expanding, having been suspended during H1 2025. <\/p>\n\n\n\n
The sale is not expected to be subject to regulatory or other approval processes. As a Category 2 transaction, it is not subject to shareholder approval as per JSE listing requirements.\u00a0<\/p>\n\n\n\n
\u201cHaving initiated our strategic review of Faberg\u00e9 in response to the considerable challenges Gemfields, today\u2019s sale marks the end of an era for us,\u201d said CEO Sean Gilbertson. <\/p>\n\n\n\n
\u201cFaberg\u00e9 has played a key role in raising the profile of the coloured gemstones mined by Gemfields, and we will certainly miss its marketing leverage and star power.\u201d <\/p>\n\n\n\n
Faberg\u00e9\u2019s net assets are valued at $50 million. The loss from operations in 2024 attributable to the net assets subject to the transaction was $5.7 million. <\/p>\n\n\n\n
The loss after taxation in 2024 attributable to the net assets subject to the transaction was $11.3 million. <\/p>\n","protected":false},"excerpt":{"rendered":"
JSE-listed Gemfields is selling its Faberg\u00e9 brand to a US-based tech entrepreneur and venture capitalist.\u00a0<\/p>\n","protected":false},"author":95,"featured_media":834528,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[23336,23335,23337],"class_list":["post-834526","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-faberge","tag-gemfields","tag-smg-capital"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/834526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=834526"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/834526\/revisions"}],"predecessor-version":[{"id":834537,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/834526\/revisions\/834537"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/834528"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=834526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=834526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=834526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}