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RAPAPORT... C. Fipke Holdings Ltd. discontinued its court action against BHP Billiton Canada and Harry Winston Diamond Corp., Stuart Blusson, Archon Minerals and various associated companies in conjunction with the Ekati mine sale. Harry Winston, which bid to purchase Ekati for about $500 million, has been advised by BHP that all of Ekati's joint venture partners agreed to waive their rights of first refusal in respect of the sale. The discontinuance of the action and waivers of the rights of first refusal permit the transactions between Harry Winston and BHP Billiton to proceed, subject to the satisfaction of closing conditions, including regulatory approvals. BHP hoped to finalize the sale in the second quarter.
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