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August 09, 2007
Istithmar Wins Barneys Bidding War
Dubai-based private equity group Istithmar won its battle for Barneys New York on Thursday after rival suitor Fast Retailing dropped out of the race.
Istithmar has agreed to pay Barneys’ parent Jones Apparel Group $942.3 million for the upscale retail chain. Istithmar raised its original $825 million offer after Japan’s Fast Retailing made a bid of $900 million.
Further details of the sale have yet to be disclosed.
Posted by Blacks on August 9, 2007 09:03 AM
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