Shareholders of Dominion Diamond Corp. approved the company’s $1.2 billion takeover by Northwest Acquisitions, a division of Washington Companies.
Dominion owns the Ekati mine in Canada’s Northwest Territories and markets 40 percent of production of the nearby Diavik mine.
Approximately 99.32 percent of shareholders approved the purchase, which had also been endorsed by the company’s board.
Following the takeover, former Mountain Province Diamonds CEO Patrick Evans is expected to become CEO.
Missoula, Mont.–based Washington Companies is a privately held group of companies established by 82-year-old billionaire Dennis R. Washington.
(Image from LinkedIn)