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Provider: Reuters Investment Profile
Provider: GlobalData
Provider: GlobalData
Provider: GlobalData

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Neiman Marcus Group Inc To Sell U.S. Luxury Department Store For $6 Billion-Reuters

Monday, 9 Sep 2013 01:50pm EDT 

Reuters reported that the owners of Neiman Marcus Group Inc have agreed to sell the U.S. luxury department store chain to Ares Management LLC and the Canada Pension Plan Investment Board for $6 billion, ending a years long effort to sell the company. The Dallas-based retailer, which operates 41 namesake department stores, along with the famed Bergdorf Goodman store on Manhattan's Fifth Avenue and the Last Call outlet chain, was taken private by a group of investors led by private equity firms TPG Capital LP and Warburg Pincus LLC in 2005 for $5.1 billion. 

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