NEW YORK, (Reuters) – A private equity firm owned by the Dubai government is in talks to buy Jones Apparel Group Inc.’s Barneys New York chain for about $950 million, The New York Post reported on Friday.
The Post reported that private equity firm Istithmar is in the running to buy the luxury department store chain, and not a private equity fund linked to the Qatar royal family, as industry paper Women’s Wear Daily reported on Thursday.
A deal is still weeks away and could fall apart, the Post reported.
Istithmar has investments in discount retailer Loehmann’s and the New York branch of the Mandarin Oriental hotel chain, among others, the paper said.
Officials from Jones declined to comment, while Istithmar officials were not immediately available.
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