Neiman Marcus Growing Close To $6 Billion Sale To Ares

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Mani
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Neiman Marcus is in advanced talks to sell to a consortium of Ares Management LLC and a Canadian pension plan for about $6 billion. Michael J. De La Merced of Dealbook reports the deal to sell the luxury retailer could be announced as soon as this week, citing known sources. Neiman Marcus  Second deal in luxury industry The proposed Neiman Marcus deal would signify the second deal in the luxury industry in recent times. Earlier, Hudson’s Bay Co agreed to buy luxury retailer Saks Inc (NYSE:SKS) for $16 per share or $2.9 billion in cash, including debt. The operator of department store…

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Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports