Harry Winston (HWD) Reports Ekati Mine Litigation with BHP (BHP) Discontinued
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Harry Winston Diamond Corporation (NYSE: HWD) has been served with a formal Notice of Discontinuance of the court action brought by C. Fipke Holdings Ltd against BHP Billiton Canada Ltd (NYSE: BHP), Harry Winston, Stuart Blusson, Archon Minerals and various associated companies.
The court action related to Harry Winston's proposed purchase of BHP Billiton's interests in the Ekati diamond mine. Harry Winston has been advised by BHP Billiton that all of its joint venture partners have agreed to waive their rights of first refusal in respect of the sale by BHP Billiton to Harry Winston pursuant to their existing purchase agreements. The discontinuance of the action and waivers of the rights of first refusal permit the transactions between Harry Winston and BHP Billiton to proceed, subject to satisfaction of closing conditions, including regulatory approvals.
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The court action related to Harry Winston's proposed purchase of BHP Billiton's interests in the Ekati diamond mine. Harry Winston has been advised by BHP Billiton that all of its joint venture partners have agreed to waive their rights of first refusal in respect of the sale by BHP Billiton to Harry Winston pursuant to their existing purchase agreements. The discontinuance of the action and waivers of the rights of first refusal permit the transactions between Harry Winston and BHP Billiton to proceed, subject to satisfaction of closing conditions, including regulatory approvals.
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