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...Rhone is also buying a fifth of HBC in a $500m preferred stock transaction. An activist investor had been pushing HBC to sell its property assets to tech firms....
...The deal also provides HBC, which also owns the luxury department store Saks Fifth Avenue, with a capital injection....
...“These transactions are expected to significantly strengthen HBC’s balance sheet, enhance our liquidity, and advance our core strategies by monetising the Lord & Taylor Fifth Avenue building and increasing...
...“HBC is a key potential acquirer of Neiman Marcus given the strength of Neiman’s brand, real estate portfolio, exposure to key brands, and ability to leverage HBC’s global infrastructure,” Mr Chen said....
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