Istithmar Revises Offer to Acquire Barneys New York for USD 942.3 Million
08/08/2007 19:17
PR Newswire
DUBAI, United Arab Emirates, August 8 /PRNewswire/ -- Istithmar PJSC, the leading private equity and alternative investment
house headquartered in Dubai, announced today that it has revised its offer
to acquire Barneys New York, the luxury specialty retailer, from Jones
Apparel Group Inc. at a purchase price of USD 942.3 million and under
competitive terms in the share purchase agreement. If this offer is not
accepted Istithmar is entitled to a break-up fee of USD 34.7 million.
(Logo:
About Istithmar:
Istithmar is a private equity and alternative investment house
headquartered in Dubai, the United Arab Emirates, with offices in Shanghai
and New York. Established in 2003, it is 100% owned by Dubai World which in
turn is wholly owned by the Government of Dubai. In the three years since its
inception, Istithmar has invested in over 30 companies in three
sectors-consumer, industrial and financial services --- deploying in excess
of $1.6 billion of capital. Istithmar's 'I' Investment Philosophy is based
around three core principles-Ideas, Inquiry and Integrity-and is the
foundation on which the firm has established a broad portfolio of highly
successful investments in the markets from North America and Europe to Asia
and the Middle East. http://www.istithmar.ae
For further information, please contact:
Hwee-Suan Ong or Mohamed Tahboub
PanGulf PR,
Tel: +97-14-295-3456
Fax: +97-14-295-1027;
E-mail: Hweesuan@batespangulf.com or mohamed@batespangulf.com
For further information, please contact: Hwee-Suan Ong or Mohamed Tahboub, PanGulf PR, Tel: +97-14-295-3456, Fax: +97-14-295-1027; E-mail: Hweesuan@batespangulf.com or mohamed@batespangulf.com