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Alrosa's Kristall purchase may close before year-end

PJSC Alrosa may finalize the acquisition of state-owned diamond polisher Kristall Smolensk this year, Reuters reported May 17, citing Russia's Deputy Finance Minister Alexei Moiseev.

The government will take a final decision on the privatization of Kristall after completing a review of its value. Moiseev said that the diamond polisher, which was affected by low profit margins, will be sold at a market price.

Reuters previously reported that Kristall has over 2,000 employees and generates an annual revenue of about US$200 million.