Consortium Finalizes the Acquisition of Aéropostale

Executive Summary

• A consortium, which includes Authentic Brands Group (ABG,) General Growth Properties (GGP) and Simon Property Group (SPG,) announced it has finalized the acquisition of Aéropostale.
• The consortium won the bankruptcy auction for the retailer with a $243.3 million bid earlier this month, after Aéropostale had filed for voluntary bankruptcy protection on May 4, 2016.
• Following the acquisition, Aéropostale will still be sold in more than 700 retail locations worldwide. It generates more than $1 billion in global retail sales, including more than $800 million from the US.