Swatch Group has completed its $1-billion acquisition of Harry Winston Inc.
The deal brings together two of the biggest names in their respective fields, and provides Harry Winston Diamonds with the capital it needs to operate the Ekati diamond mine. That $553-million agreement with BHP Billiton for 80 per cent of the mine was also completed recently.
The purchase of the Harry Winston jewellery and timepiece division also means a name change for Harry Winston Diamonds, which is now known as Dominion Diamond Corp. The company currently owns 40 per cent of another Canadian diamond mine—Diavik.
