Harry Winston receives approvals for sale to Swatch Group

Harry Winston Diamond Corporation’s proposal to sell its luxury jewelry and timepiece division, Harry Winston Inc., to the Swatch Group, has inched further, as the company received the required regulatory approvals towards the same. Post sale, Harry Winston Diamond Corporation will undergo a name change to Dominion Diamond Corporation, reports suggest. The sale, valued at $1 billion is expected to close by March 26, 2013.