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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Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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