Harry Winston Diamond Corp. (HWD) and groups headed by KKR &
Co. (KKR) and Apollo Global Management LLC (APO) are negotiating to
buy BHP Billiton Ltd.'s (BHP) Ekati diamond mine, Bloomberg News
reported Wednesday, citing two people with knowledge of the
matter.
The sale price may be $500 million to $750 million and an
agreement could be reached in about a month, the sources told
Bloomberg.
According to the report, Apollo is teaming with Eira Thomas,
former chairman of Stornoway Diamond Corp. (SWY.T), to bid for
Ekati, which is Canada's oldest diamond mine and has produced an
average of over three million carats of rough diamonds a year in
recent years.
In November, BHP said it would review its diamond operations in
preparation for a possible sale.
Full story at
http://www.bloomberg.com/news/2012-03-14/harry-winston-kkr-apollo-said-to-consider-bids-for-bhp-mine.html
-Dow Jones Newswires; 212-416-2900
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