By  on March 21, 2012

PARIS — De Grisogono founder Fawaz Gruosi has relinquished his majority stake in the Swiss fine watch and jewelry firm to outside investors in a bid to fuel expansion.

Gruosi revealed Wednesday that he’d sold an undisclosed stake in the company to several European and African private equity funds that have a portfolio of long-term international holdings, including the mining of precious stones. Terms of the deal, including the identity of the buyers, were not disclosed.

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