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Istithmar increases offer for Barneys New York to $942m09/08/2007. Source: AltAssets. 
 Dubai-headquartered private equity and alternative investment house Istithmar has revised its offer to acquire Barneys New York, the luxury specialty retailer, from Jones Apparel Group at a price of $942.3m in a share purchase agreement.
Istithmar previously offered $825m for Barneys New York.
Barneys New York is a luxury retailer with flagship stores in New York City, Beverly Hills, Chicago, Boston and Dallas. The company also operates two regional full-price stores, fourteen CO-OP Barneys New York stores, and 13 outlet stores, and also holds two semi-annual warehouse sale events.
Istithmar, established in 2003, is 100 per cent owned by Dubai World which in turn is wholly owned by the government of Dubai.
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