Istithmar completes acquisition of luxury retailer Barneys
08 Sep '07
1 min read
Istithmar announced the completion of its acquisition of luxury retailer Barneys New York at a purchase price of USD 942.3 million.
The company announced the closing following the signing of definitive documents on 8 August 2007 and obtaining clearance from U.S. antitrust authorities to buy the luxury retail chain.
Istithmar is a private equity and alternative investment house headquartered in Dubai, the United Arab Emirates, with offices in Shanghai and New York.
Established in 2003, it is 100% owned by Dubai World which in turn is wholly owned by the Government of Dubai.
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