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Istithmar Completes Acquisition of Barneys
DUBAI, United Arab Emirates, September 7 /PRNewswire/ -- Istithmar announced today 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. (Logo: http://www.newscom.com/cgi-bin/prnh/20070805/268060 ) About Istithmar: 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. In the three years since its inception, Istithmar has invested in over 30 companies in three sectors - consumer, industrial and financial services. Istithmar's 'I' Investment Philosophy is based around three core principles - Ideas, Inquiry and Integrity - and is the foundation on which the firm has established a broad portfolio of highly successful investments in the markets from North America and Europe to Asia and the Middle East. http://www.istithmar.ae For further information, please contact: Hwee-Suan Ong or Mohamed Tahboub PanGulf PR Tel: +97150-786-2997 Fax: +9714-295-1027 E-mail: Hweesuan@batespangulf.com or mohamed@batespangulf.com
