Kinross Sells 8.5% Share in Harry Winston Diamond Co for C$100 Million
Post Date: 29 Mar 2011 Viewed: 547
Kinross Gold Corporation, a Canadian-based gold mining company with projects in North and South America, Russia, and Africa, has sold its remaining 8.5% share in the Harry Winston Diamond Corporation, the company announced last week.
The deal comprised some 7.1 million shares worth C$100 million.
Seven months ago, Kinross sold its 22.5% interest in the partnership that holds a 40% interest in the Diavik diamond mine – the most profitable diamond mine in North America – to Harry Winston for $50 million cash, 7.1 Harry Winston shares, and a $70 million note that is due to mature in August 2011, a year after the sale.