Saks Global Enterprises LLC is exploring strategic choices for Bergdorf Goodman, together with promoting a minority place within the luxurious division retailer, WWD reported.
The firm had examined the market for an outright sale and is now targeted on promoting a minority stake that will worth Bergdorf Goodman within the vary of $1.5 billion to $2 billion, WWD reported, citing unidentified sources. The publication didn’t say how massive a stake is perhaps accessible for sale.
A spokesperson for Saks mentioned the corporate doesn’t touch upon hearsay or hypothesis.
Saks Global in latest months has overhauled its capital construction, together with remodeling $2.2 billion of bonds issued in December to fund its takeover of rival Neiman Marcus. After poor gross sales and troubled vendor relationships marred its post-acquisition efficiency, Saks was compelled to hunt extra financing simply months after issuing the bonds, Bloomberg has reported.
By Catherine Larkin
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