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Ares and CPPIB Acquire Neiman Marcus for $6 Billion

Neiman Marcus in Natick, Massachusetts | Source: Neiman Marcus
By
  • Vikram Alexei Kansara

"Neiman Marcus, the US luxury retailer, has sold itself to Ares Management, the US investment firm, and the Canada Pension Plan Investment Board for $6bn. Ares and CPPIB will hold an equal stake in the retailer, while Neiman Marcus management will have a minority holding. The deal is expected to be completed in the fourth quarter of 2013."

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