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Lap of luxury

9 September 2013 By Jeffrey Goldfarb

A group led by TPG and Warburg Pincus is selling the luxury retailer for $6.1 bln, or an eight-year IRR of about 15 pct. That’s not bad having endured the crisis, aided by newfangled PIK-toggles. Still, like owning, say, a $75,000 Neiman yurt, it’s less exciting than first hoped.

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