Minority partner looks to block sale of Canadian diamond mine

Harry Winston Diamond Corp’s plan to buy BHP Billiton’s Ekati diamond operations in Northern Canada hit a snag on Thursday, with a minority partner filing a lawsuit to try to block the deal.

C Fipke Holdings, which has a right of first refusal on the sale, is alleging that BHP Billiton failed to comply with their joint venture agreement, in an legal action in the Ontario Superior Court of Justice.

Fipke is seeking a court order to stop the sale, unless provided with a revised offer from BHP, Harry Winston said.

via Business feed http://www.scmp.com/business/companies/article/1130877/minority-partner-looks-block-sale-canadian-diamond-mine