Tiffany Diamond Producing Company Is Selling Its Major Shares Of Aber
Sourcing the Planet, Delivering the World...
中文 / English   

Tiffany Diamond Producing Company Is Ending Its Relations with Aber

2005: Tiffany Diamond Producing Company Is Making Changes in Its Supply Strategies

January 2005

Tiffany & Co. has sold its entire 13.9% stake of Aber Diamond Corp. for $268 million, it announced recently.

Diavik is one of the owners of the Diavik diamond mine in Canada's Northwest Territories. Tiffany sold the shares to several financial institutions in a brokered deal led by Merrill Lynch. It originally paid $70 million for them.

The end of the deal also means that Tiffany Vice President and Chief Financial Officer James Fernandez has resigned from the Aber board.

Tiffany and Aber also made changes to their Diamond Supply Agreement so that Tiffany will pay market value for Aber’s rough diamonds instead of receiving a discount. Under the agreement, Tiffany is obligated to purchase at least $50 million worth rough diamonds from Aber each year. The agreement is due to expire in 2013.


For over twenty years we produced
The Diamond Registry Bulletin.
In this section you will find very useful articles and tools on how to purchase a diamond.

2011 2010 2009
2008 2007 2006
2005 2004 2003
2002 2001 2000
GIA Jewelers Board JBT Website