China’s Yinren buys world’s second biggest diamond bank

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Belgian bank-insurer KBC said on Thursday it has sold Antwerp Diamond Bank – the world’s second biggest such bank – to Chinese group Yinren for an undisclosed sum.

The Antwerp bank provides financing to the diamond trade and has 75 years of experience in the industry.

With the acquisition, Yinren would be able to leverage on the bank’s expertise, network and reputation in its bid to develop the Chinese diamond market, KBC said in a statement.

It would also allow Yinren, a group dabbling in real estate, diamonds and trade, to “play a role in the interaction between the world’s main diamond centres – including Antwerp, Mumbai, Dubai and Hong Kong – and the upcoming centres of the Far and Middle East”.

Under the deal, KBC would take on 400 million euros worth of high risk or bad loans on the diamond bank’s books and also provide funding totalling 200 million euros to the bank for up to two years following the sale.

Source : Channel News Asia | December 20, 2013

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About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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