The shareholders and the management of Glashütter Uhrenbetrieb GmbH and the Swatch Group Ltd. agreed that the Swatch Group Ltd. acquires with immediate effect all the shares of the German watch manufacture Glashütter Glashütter Uhrenbetrieb, Glashütte (near Dresden, Germany). The Glashütter Uhrenbetrieb manufactures high-quality mechanical watches situated in the luxury segment of the “haut de gamme” watch market.
