Dermot Desmond has stepped in to buy $50 million worth of diamonds from Mountain Province, his Canadian diamond mine company, which is in “serious financial difficulty”.
Mountain Province disclosed the sale to the stock market earlier this week. The diamonds were bought by Dunebridge Worldwide, a Bahamas-based company controlled by Desmond.
The transaction will be structured in two parts, according to Mountain Province, with a deal for $22 million worth of diamonds closed today...
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Unlimited Access for 2 Years
Get a Business Account for you and your team