Neiman Marcus sold for $6 bln to CPPIB, Ares - Reuters

The owners of Neiman Marcus 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, 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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