A raft of firms including Freshfields Bruckhaus Deringer, Reed Smith and White & Case are advising on the tussle to acquire London-listed miner Gemfields, the owner of the Faberge jewellery brand.

South African private equity firm Pallinghurst Resources is reportedly on the brink of acquiring Gemfields, with Pallinghurst’s shareholders set to vote on whether to push ahead with the acquisition.