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Dominion Diamond Completes Harry Winston Sale to Swatch

Mar 28, 2013 7:07 AM   By Jeff Miller
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RAPAPORT... Dominion Diamond Corporation, formerly Harry Winston Diamond Corporation, completed the sale of its luxury division, Harry Winston Inc., to the Swatch Group. As part of the $1 billion agreement, the mining company changed its name to Dominion Diamond. In connection with the name change, the company's stock symbol will change from HW to DDC on the Toronto Stock Exchange and from HWD to DDC on the New York Stock Exchange.

Dominion Diamond remains focused on  mining and marketing rough diamonds with a 40 percent stake of the Diavik diamond mine in Canada's Northwest Territories and rough diamond sorting and sales operations in Canada, Belgium and India. Dominion Diamond is awaiting regulatory clearance on the purchase of an 80 percent stake in the Ekati diamond mine, located in the Northwest Territories,  as well as a controlling interest in surrounding areas containing significant prospective resources from BHP Billiton.

Tags: Diamond mining, Dominion Diamond, Harry Winston, Jeff Miller, Swatch
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