Middle East Saudi, Gulf consortium seeking to buy Barneys New York:...

Saudi, Gulf consortium seeking to buy Barneys New York: Maaal

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FILE PHOTO: The Barneys New York sign is seen outside the luxury department store in New York
FILE PHOTO: The Barneys New York sign is seen outside the luxury department store in New York, U.S., July 31, 2019. REUTERS/Shannon Stapleton/File Photo

October 29, 2019

DUBAI (Reuters) – A Saudi and Gulf consortium is seeking to buy luxury retailer Barneys New York Inc, Saudi financial news website Maaal reported on Tuesday.

The consortium is led by Saudi company Arabian Oud and includes an unidentified “major airline”, Maaal reported, citing sources.

Separately, Dubai-based newspaper Gulf News reported that the consortium had teamed up with Solitaire Partners to make a bid for Barneys worth in the “area of $270 million”.

They could bring in an additional investor if the bid is successful, Gulf News reported.

(Reporting by Marwa Rashad; writing by Tuqa Khalid; editing by Jason Neely)

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