Private equity firms eye Neiman Marcus Exit -Bloomberg
NEW YORK May 5 (Reuters) - Private equity firms TPG Capital and Warburg Pincus LLC are exploring a sale or a public offering of Neiman Marcus Group Inc, according to a Bloomberg News report late on Sunday.
The private equity firms, which bought the Dallas-based retailer in 2005 for $5.1 billion, have interviewed banks and are about to hire Credit Suisse Group AG to run the dual track process, according to the report, which cited two people familiar with the situation.
A Credit Suisse spokesman declined to comment. E-mails to Warburg, Neiman Marcus and TPG were not immediately returned.
TPG and Warburg are in the early stages of exploring their options and if they do not find a buyer or demand is weak for an IPO, they may decide to pursue a dividend recapitalization instead, according to the report.
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