Dubai, April 15, 2009: "Istithmar World Capital has provided a significant level of additional capital to support Barneys New York. 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."
-Ends-
About Istithmar World
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.
Istithmar World Capital is a private equity and alternative investment house headquartered in Dubai, United Arab Emirates, with an office in Shanghai, China. Istithmar World Aviation invests in fast-growing sectors of the aviation and aerospace industry, including airlines, manufacturing, engineering and financing. Istithmar World Ventures is a venture capital platform that benefits promising start-ups and greenfield ventures by providing them with the necessary financial and managerial resources.
For further information, please contact:
Sanaa Maadad
Manager, Media Department
World View Communications
Dubai World
Mobile :+971 50 5522610
Email :sana.maadad@dubaiworld.ae
© Press Release 2009
