Barney's Dubai
Istithmar, a private-equity and alternative-investment house based in Dubai, purchased Barneys New York Inc. from Jones Apparel Group for $825 million in cash. The deal allows Jones to consider other purchase offers for the highend retail chain, but the apparel manufacturing giant would be required to pay a termination fee before ending its agreement with Istithmar. The Dubai deal is expected to be completed by the third quarter of 2007.
