Diamonds in the news: Aber Diamond Corporation completes purchase of majority interest in Harry Winston Inc.
Excerpt:
TORONTO and NEW YORK, April 2 /CNW/ - Aber Diamond Corporation ("Aber" or
the "Company") (TSX-ABZ, Nasdaq-ABER), the premier publicly traded diamond
company, Harry Winston Inc. ("Harry Winston"), one of the world's leading
luxury jewellery and watch retailers, and Fenway Partners, Inc., a
New York-based private investment firm, today announced that Aber has acquired
a 51% controlling interest in Harry Winston.
"This investment in Harry Winston is the next step in realizing our
objective of building value in a diamond business that exploits synergies
between the two bookends of the diamond pipeline, mining and retailing" said
Mr. Robert Gannicott, CEO of Aber. "These are the two segments of the industry
with the most attractive returns of a scale interesting to a public company.
We believe that our strength and knowledge as a diamond producer will enhance
Harry Winston's access to the appropriate polished diamonds to support growth
in its business."
"This is a great day in the 70 year history of Harry Winston", said
Mr. Ronald Winston, Chairman of Harry Winston Inc.
Posted by GilbertZ at 01:45 PM
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