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IDEX Online: Harry Winston Inc. sold

2013-03-27

Toronto--Harry Winston Diamond Corp. completed the sale of its namesake luxury brand to the Swatch Group and changed its name to Dominion Diamond Corp. The company will announce its financial results on April 3.

Dominion has completed the sale of its luxury brand diamond jewelry and timepiece division, Harry Winston Inc., to Swatch Group on Tuesday.

As part of the transaction, the company has changed its name to Dominion Diamond Corp. from Harry Winston Diamond Corp.It also changed its stock symbol from "HW" to "DDC" on the Toronto Stock Exchange and from "HWD" to "DDC" on the New York Stock Exchange.

Dominion will release its fourth-quarter and annual results for the period ended Jan. 31 on April 3.

Dominion is now focused on mining and marketing rough diamonds. It owns 40 percent of the Diavik diamond mine in Canada's Northwest Territories and rough diamond sorting and sales operations in Canada, Belgium and India.

Currently, it is awaiting regulatory clearance on the purchase of an 80 percent interest in the Ekati diamond mine from BHP Billiton, also located in the Northwest Territories of Canada, as well as a control interest in surrounding areas containing significant prospective resources.

This article was first published on IDEX Online on March 27.