Gemfields announces that it has signed an agreement to sell its entire interest in wholly owned Fabergé Limited (“Fabergé”), the iconic luxury brand, to SMG Capital LLC (the “Buyer”), for a total consideration of USD 50 million. Of that sum, USD 45 million is payable to Gemfields by the Buyer on completion of the sale (which is expected on 28 August 2025). The remaining USD 5 million is payable to Gemfields by the Buyer by way of quarterly royalty payments at a rate of 8% of Fabergé’s revenue. The sale is not expected to be subject to regulatory or any other approval processes
