Key Developments: The Swatch Group SA (SWGAF.PK)
585.00USD
17 Jun 2013
$6.00 (+1.04%)
$579.00
$585.00
$585.00
$585.00
25
42
$619.00
$349.77
Latest Key Developments (Source: Significant Developments)
Harry Winston Diamond Corp Receives All Required Regulatory Approvals For Sale Of Luxury Brand Segment To The Swatch Group SA
Harry Winston Diamond Corp announced that it has received all required regulatory approvals to the Company's proposed sale of luxury brand diamond jewelry and timepiece division, Harry Winston, Inc., to The Swatch Group Ltd. (the Transaction). The Company expects that closing of the Transaction will occur on or about March 26, 2013. As previously announced, the Company will, in connection with the closing of the Transaction, change name to Dominion Diamond Corporation. Full Article
The Swatch Group SA Acquires Harry Winston-Reuters
Reuters reported that The Swatch Group SA said it was buying watch and jewelery brand Harry Winston and its 535 employees for $750 million plus up to $250 million of net debt to complement its high-end watch portfolio. Full Article
The Swatch Group Ltd. Files CHF541.9 Million Conterclaim Against Tiffany & Co.-DJ
Dow Jones reported that The Swatch Group Ltd. said that following the termination of the long-term cooperation agreement with Tiffany & Co., Tiffany has made a counterclaim against Swatch Group. Following the termination of long-term cooperation agreements with Tiffany & Co., Swatch Group and its affiliate Tiffany Watch Co. Ltd claimed CHF3.8 billion in damages from Tiffany & Co. at the end of December 2011. Tiffany & Co. responded with a so-called counterclaim of CHF541.9 million. In December 2007, Swatch Group entered into long-term cooperation agreements with Tiffany & Co. to design, manufacture and distribute Tiffany & Co. watches worldwide. Based on the long-term commitments of Tiffany & Co., Swatch Group invested millions to develop, distribute and sell 'Tiffany & Co.' watches through its own stores, its worldwide network of independent retailers and through Tiffany & Co. stores. Full Article
The Swatch Group Ltd. Ends Tiffany & Co. Partnership Citing Breach Of Contract-DJ
Dow Jones reported that The Swatch Group Ltd. is terminating its cooperation agreement with Tiffany & Co., citing material breach of contract. Swatch founded Tiffany Watch Co. Ltd in 2008 under a long term partnership agreement with Tiffany, to develop, produce and distribute Tiffany branded watches. The luxury watches are sold by Tiffany, Swatch Group and independent retailers. Full Article
The Swatch Group Ltd. (Registered Share)'s Universo Ltd. and Energizer Ltd. Sign Contract for Acquisition of Building and Land
The Swatch Group Ltd. announced that Universo Ltd., a company of The Swatch Group Ltd., and Energizer Ltd., both in La Chaux-de-Fonds (Switzerland) have signed a contract on August 10, 2011, for the acquisition of buildings and land on rue Louis-Joseph Chevrolet 43 in La Chaux-de-Fonds. The handover will take place on November 1, 2011. Full Article
UPDATE 1-Swiss exports sag in May as watches, chemicals hit
* SNB seen affirming commitment to franc cap (Adds details, analyst comment, shares)
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