Swatch Acquires U.S. Jewelry Brand Harry Winston Inc. For $750 Million
January 14 2013 - 12:33AM
Dow Jones News
Swatch Group (UHR.VX) said Monday it has acquired 100% of the
U.S. jewelry and watch brand Harry Winston Inc. for an acquisition
sum of $750 million, plus the assumption of up to $250 million of
pro forma net debt.
MAIN FACTS:
-The Swatch Group Ltd. acquires the brand and all the activities
related to jewelry and watches, including the 535 employees
worldwide and the production company in Geneva.
-The transaction does not include the mining activities of Harry
Winston Diamond Corporation (TSX: HW, NYSE: HWD) - new: Dominion
Diamond Corporation -, in Toronto (Canada).
-Nayla Hayek, Chairwoman of The Swatch Group Ltd., said: "Harry
Winston does brilliantly complement the prestige segment of the
Group. We are proud and happy to welcome Harry Winston to the
Swatch Group family - diamonds are still a girl's best friend".
-The transaction is subject to the approval of the different
regulatory authorities.
-Zurich Bureau, Dow Jones Newswires, +41 43 443 80 47;
zurichdjnews@dowjones.com
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