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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation

Neiman Marcus selects banks for IPO

Posted on 07 August 2013

Neiman Marcus Group Inc. hired banks to work on an initial public offering, said people familiar with the matter, after the luxury retailer spent the summer exploring a sale to a sovereign wealth fund.
Neiman reached out to sovereign-wealth funds in an effort to find an outright buyer for the luxury retail chain to no avail, one of the people said. The retailer held discussions with the Qatar Investment Authority about buying the chain or possibly acquiring only Neiman’s Bergdorf Goodman department stories, but the two sides couldn’t agree on terms, this person said………………………………………..Full Article: Source


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