Newswire

  • Finlay Enterprises, the largest U.S. operator of jewelry departments in department stores, will buy privately owned Congress Jewelers. Finlay executed a stock purchase agreement for the acquisition. Congress Jewelers has five jewelry stores in Florida, with annual sales of about $23 million.

  • Canadian miner Aber Diamond Corp. is now the sole owner of Harry Winston. Aber, co-owner of the Diavik Mine in Canada’s Northwest Territories, purchased an initial 51 percent stake in Harry Winston in April 2004 for $85 million. It later increased its equity interest to approximately 53 percent and paid $157 million to increase its holding to 100 percent.

  • Friedman’s Jewelers agreed to repay $2.15 million to 19 states to settle complaints that its clerks forced customers to unknowingly purchase credit insurance.