Pursuits
Sycamore to Buy Jones Group Fashion Firm for $1.2 Billion
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Jones Group Inc., owner of the Nine West and Jones New York fashion brands, said it’s selling itself to private-equity firm Sycamore Partners LLC for $15 a share.
That values the deal at $1.2 billion, or about $2.2 billion including debt, New York-based Jones said yesterday in a statement. The deal is expected to close in the second quarter of next year and will take the company private.