Private-Equity Firms Eye Neiman Marcus Exit: Report
Private-equity firms TPG Capital and Warburg Pincus are exploring a sale or a public offering of Neiman Marcus Group, according to a Bloomberg News report late on Sunday.
The private-equity firms, which bought the Dallas-based retailer in 2005 for $5.1 billion, have interviewed banks and are about to hire Credit Suisse Group to run the dual track process, according to the report, which cited two people familiar with the situation.
A Credit Suisse spokesman declined to comment. E-mails to Warburg, Neiman Marcus, and TPG were not immediately returned.
TPG and Warburg are in the early stages of exploring their options and if they do not find a buyer or demand is weak for an IPO, they may decide to pursue a dividend recapitalization instead, according to the report.