Sycamore Announces Acquisition Of Jones Apparel Group

< p > US private equity fund SycamorePartnersLP 19 U.S. time announced the acquisition of a href= "http://www.91se91.com/news/index_c.asp" > apparel group /a > TheJonesGroupInc. (NYSE:JNY), the purchase price was $15 per share, 6.16% higher than the 14.13 (6.16%) of the TheJonesGroupInc. (NYSE:JNY) 19 market price, and the total amount was 2 billion 200 million US dollars (including 1 billion US dollars).

News stimulus TheJonesGroupInc. (NYSE:JNY) jumped 4.6% to $14.78 after 19 days after trading.

The two sides expect the paction to be completed in the two quarter of 2014, when TheJonesGroupInc. (NYSE:JNY) will be delisted.

< /p >

< p style= "text-align: center" > < img border= "0" align= "center" width= "502" height= "444" alt= "" height= "/" > "

< p > quoted news that TheJonesGroupInc. (NYSE:JNY) will be split into four companies by SycamorePartnersLP, namely shoes and denim business companies, including JonesNewYork department store clothing companies, and KurtGeiger and StuartWeitzman two independent companies.

Among them, the high-end "a href=" http://www.91se91.com/news/index_c.asp "shoes" brand < /a > KurtGeiger and StuartWeitzman are the best business departments in TheJonesGroupInc. (NYSE:JNY).

< /p >

< p > at the same time, < a href= "http://www.91se91.com/news/index_c.asp" > SycamorePartnersLP < /a > has been in touch with potential buyers interested in TheJonesGroupInc. (NYSE:JNY) business.

It is reported that G-IIIApparelGroupLtd. (NASDAQ:GIII) phase JonesNewYork and AnneKlein, while NineWest's nine year old agent ShersonGroup aims at TheJonesGroupInc. (NYSE:JNY)'s middle end shoe shoe brand, while designer RachelRoy hopes that the joint partners will buy back the brand equity held by TheJonesGroupInc. (NYSE:JNY).

< /p >

< p > industry forecasts that SycamorePartnersLP will cut some businesses and streamline management.

< /p >

< p > earlier this year, BaringtonCapitalGroup, holding TheJonesGroupInc. (NYSE:JNY) of about 2%, encouraged the company to sell. After BaringtonCapitalGroup boss and fund investor JamesMitarotonda7 entered the TheJonesGroupInc. (NYSE:JNY) board of directors, the group immediately hired CitigroupInc. (NYSE:C) Citibank to explore the possibility of the overall sale.

< /p >

< p > SycamorePartnersLP originally planned to combine the private equity fund KKR&Co.LP (NYSE:KKR) to buy the NineWest parent TheJonesGroupInc. (NYSE:JNY) as a whole, but KKR&Co.LP (NYSE:KKR) then withdrew.

And StevenMaddenLtd (NASDAQ:SHOO), IconixBrandGroupInc. (NASDAQ:ICON), G-IIIApparelGroupLtd. (NASDAQ:GIII), VinceCamuto and other industry buyers, as well as LeonardGreen&PartnersLP, SunCapitalPartnersInc and GoldenGateCapitalLP and other private equity funds have deliberately bought some brands of TheJonesGroupInc..

< /p >

< p > TheJonesGroupInc. (NYSE:JNY) has about 40 brands and more than 500 stores, but in recent years some brands have been performing poorly, and its share price has dropped from its peak of about 40 US dollars in 2001 to 10 US $-20.

At the end of April, the group issued a strategic plan aimed at improving profitability. It decided to close 170 stores in the United States before the middle of 2014 and cut down 18% of its domestic retail channels, plus 100 jobs in the wholesale and supply chain sectors, with 850 redundancies.

< /p >