|
RAPAPORT... Harry Winston Diamond Corporation received the required regulatory approvals for the company's proposed sale of its luxury brand diamond jewelry and timepiece division, Harry Winston Inc., to the Swatch Group.
The companies expect that the transaction will close next week on or near March 26. With the closing, Harry Winston Diamond Corporation will change its name to Dominion Diamond Corporation. In January, Harry Winston agreed to sell its luxury division to Swatch for $750 million in cash, along with a debt repayment of $250 million on its behalf.
|