Cleary Gottlieb represented Istithmar PJSC and its subsidiary, Istithmar Retail Investments, in a $300 million acquisition of Loehmann’s Holdings Inc. The acquisition agreement was signed on May 15 and the deal closed on July 17.
Loehmann’s is a leading national specialty retailer of well known designer and brand name women’s fashion apparel, men’s furnishings, accessories, and shoes offered at prices that are typically 30% to 65% below department store prices.
Istithmar is a private investment company investing money on behalf of the government of Dubai.