Deal Done
Jones Apparel Group Inc. wrapped up the loose ends on its $945 million sale of Barneys New York to Istithmar PJSC, a private-equity and alternative-investment firm based in Dubai. That is more than double the $400 million Jones paid for the luxury retailer in 2004. After taxes, Jones expects to receive about $840 million from the sale. Jones intends to use some of the funds to undertake a stock-repurchase plan.
