Harry Winston Expects Luxury Division Sale to Close March 26
Harry Winston Diamond Corporation received the required regulatory
approvals to 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 about 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.