October 17, 2012 — Reuters reports:
Harry Winston Diamond Corp is looking to sell its watch and jewellery business to concentrate on mining, and has been approaching potential buyers, a source close to the matter said.
….As always when this type of activity hits the market, the big names in luxury, like LVMH and PPR, figure prominently among potential acquirers.
RBC Capital Markets analyst Irene Nattel, quoted in the article, sees Harry Winston’s luxury brand alone worth some $1.2 billion, net of debt.
This was confirmed in a statement released by Harry Winston yesterday:
“In response to recent media reports, Harry Winston Diamond Corporation today announced that while it is the company’s general policy not to comment on market rumours, it confirms that it has received various indications of interest regarding a potential purchase of its luxury brand segment. It is not in active negotiations regarding any such transaction.”