Challenge to Harry Winston Ekati Purchase Dropped

Harry Winston’s purchase of the Ekati diamond mine now looks like a definite go. 

Charles Fipke, the man generally credited with discovering the mine and current owner of a 10 percent stake, dropped his legal action against Winston’s purchase of the Canadian mine from current owner BHP Billiton, according to a Feb. 4 Winston news release.

The statement did not give any reason why the suit had been dropped, and company representatives did not have any additional comment at press time. Fipke could not be reached for comment.

The Ekati sale is still subject to regulatory approval.

The remaining partners in the mine do not plan to contest the sale, the statement added.

In November, Winston announced it would purchase Northwest Territories–based Ekati from BHP Billiton for $500 million, a sale that will mark BHP’s exit from the diamond business.

The company has also sold its retail business to Swatch, and plans to rename itself Dominion when that sale closes. It has hinted it may attempt to buy the remaining interest in Diavik, the other diamond mine for sale in the area.

JCK News Director