Aber Diamond Corporation announced that it has completed the purchase of the minority shareholders' ownership in Harry Winston and expansion of its existing credit facility.
On September 13, 2006, Aber announced that it had entered into an agreement to purchase the minority shareholders' interest in world-renowned jeweler, Harry Winston, for approximately US$157 million giving it full 100 percent ownership.
The transaction attributes an equity value to Harry Winston of approximately US$330 million. The purchase will be financed through a combination of cash resources and an increase to Aber's existing credit facility.
Aber has amended its existing credit facility to include a term loan of US $100 million which has a final maturity date of June 2008.
marketing@alchempro.com
