Israel’s Leviev Group Takes Control of Canadian Factory

Adding yet another local diamond factory to its quickly expanding portfolio, Israel's Leviev Group has purchased Sirius Diamonds, one of the first companies to manufacture diamonds in Canada's Northwest Territories. The deal represents the first Canadian involvement for the Leviev Group. With estimated revenue of $2.5 billion annually, the group is widely considered the second-largest diamond company in the world, next to De Beers. Terms of the deal were not disclosed, although press reports say Leviev exceeded the threshold payment of $5 million. The company, one of four area cutters, had filed for bankruptcy and gone into receivership after the local government demanded repayment of its $8 million loan. Another local manufacturer, Arslanian Cutting Works, also had its loan called in by the government and was placed into interim receivership, although the government will now sup

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