Swatch Winds Up Luxury Biz With $1B Harry Winston Buy

Law360, New York (January 14, 2013, 12:59 PM EST) -- Swiss conglomerate Swatch Group Ltd. will scoop up the watch and jewelry business of Harry Winston Inc. in a $1 billion deal, the pair said Monday, folding the luxury brand into its portfolio as retail sector dealmaking continues to spotlight high-end names.

Under the deal's terms, Swatch will pay $750 million for the assets and assume up to $250 million in Harry Winston debt. The companies did not give a financing breakdown or say when they expected to close the transaction, which is subject to regulatory...
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