on Wednesday sold its indirect interest in Canada’s largest diamond mine in a previously announced deal worth $220 million in cash, stock and a note, The Associated Press reported.
The Toronto-based gold mining company said it completed the sale of its portion of a joint venture that holds a 40 percent interest in Diavik Diamond Mine, in Canada’s Northwest Territories.
The joint venture was with , also based in Toronto, The Associated Press .
Harry Winston bought out Kinross’s portion for $50 million cash, about 7.1 million of its own shares worth about $100 million, and a $70 million note that matures in 12 months. The note bears 5 percent annual interest and can be repaid in cash or additional Harry Winston shares.
