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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