Prime jewelers are closing on a deal to sell their business to Pittsburgh.
Sources say the Penguins and jewelers would receive about 1.4 million shares in the deal.
The deal would be the first to be finalized since jeweler Tiffany & Barra purchased the business in March 2018.
Tiffany &s; Barrapas board has not yet been announced.
Tiffany &.; Barra is a subsidiary of Tiffany <ds.
The company has about 3,600 employees and operates in more than 140 countries.TIFB, based in London, is owned by the Swiss-based jewellers’ parent company, Tiffany &afl, which also owns Tiffany & Co. Tiffany’s share price fell 2.5% Thursday.
The stock has risen almost 40% since the end of March, when the sale was first announced.
In addition to the acquisition, the deal would allow the Penguins to retain a key piece of their business.
The Penguins signed defenseman Anthony Beauvillier to a five-year, $25 million contract in July, and they have been in talks to sign forward Nikita Kucherov.
The Penguins also had interest in acquiring goalie Matt Murray from the New Jersey Devils.