Cravath, Paul Hastings Rep Jones In Weitzman Deal

Law360, New York (May 6, 2010, 1:43 PM EDT) -- Jones Apparel Group Inc. announced Thursday it had agreed to buy privately held upscale women's footwear and accessories maker Stuart Weitzman LLC in a deal that includes an initial cash payment of $180 million.

Jones said it would pay $180 million upfront to selling shareholders, including private equity firm Irving Place Capital, for a 55 percent interest in Stuart Weitzman, leaving the target company as the principal owner of the remaining 45 percent.

The company will buy the remaining interest at the end of 2012 based...
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