by eyetee | March 21, 2013 2:13 pm
Harry Winston Diamond Corp., has received regulatory approval for the $1-billion sale of its luxury brand diamond jewelry and timepiece division to the Swatch Group.
The Toronto-based company says it expects the deal to close on or about March 26, after which Harry Winston, Inc., will be known as Dominion Diamond Corp.
Swatch Group announced in January it had agreed to pay $750 million for the retail brand and its operations, and assume another $250 million in debts.
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