Dubai, April 15th, 2009 (WAM)--Istithmar World Capital has provided a significant level of additional capital to support Barneys New York.
It said in a statement that "Working closely with management, we believe that this amount allows the company financial flexibility to work with the company's major vendors and financial intermediaries. The plan enables the company to meet its 2009 schedule of shipments. We will continue to monitor the company's performance but we are confident that no further injection is needed at this time."Established in 2003, Istithmar World is the investment arm of Dubai World. In the five years since its inception, Istithmar World has built a broad portfolio of successful investments in markets ranging from North America and Europe to Asia and the Middle East, as well as across a variety of sectors, including consumer, industrial and financial services. Based in Dubai and with offices in Shanghai and New York, the firm invests through its three separately-managed divisions: Istithmar World Capital, Istithmar World Aviation and Istithmar World Ventures.Copyright Emirates News Agency (WAM) 2009.
