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Investors seal $6B deal for Neiman Marcus

The Canadian Pension Plan Investment Board and U.S. private-equity firm Ares Management will pay $6 billion to acquire the majority stake in luxury department store Neiman Marcus, with the retailer’s management team retaining a minority stake. The deal includes the retailer’s 41 name department stores, two Bergdorf Goodman stores in New York, 36 Neiman Marcus Last Call outlet stores and the retailer’s online operations. Read The Globe and Mail story here.

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