Private equity firms eye Neiman Marcus Exit: Bloomberg

NEW YORK (Reuters) - Private equity firms TPG Capital and Warburg Pincus LLC are exploring a sale or a public offering of Neiman Marcus Group Inc, 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 AG 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.

(Reporting By Jessica Toonkel; Editing by Daniel Magnowski)

Source: http://news.yahoo.com/private-equity-firms-eye-neiman-marcus-exit-bloomberg-010435170.html

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