Istithmar in $945 Million Barneys Acquisition

September 7, 2007

Cleary Gottlieb represented Istithmar PJSC in its $945 million acquisition of Barneys New York, Inc. from Jones Apparel Group, Inc. The deal closed on September 7.

Barneys is a leading specialty retailer of luxury high-end designer and brand name men’s and women’s fashion apparel, shoes and accessories; it also sells its own private label high-quality fashion apparel. Barneys has five flagship stores (located in New York City, Beverly Hills, Chicago, Boston and Dallas) and more than 30 smaller regional, Co-Op and Outlet stores across the country.

Istithmar is a private investment company that invests on behalf of the Dubai government.