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BlackRock is taking a sizeable stake in the moms and dad of Sports Illustrated and the retail chains 9 West and Aeropostale, becoming the business’s biggest investor.
. Financial terms were not revealed. The Wall Street Journal, which first reported the deal Sunday, cited anonymous sources who put the investment at$875million, valuing the entertainment and marketing business at$ 4 billion, consisting of financial obligation.
. Genuine Brands Group has more than 50 brand names and nearly $10 billion in annual international profits.
Other investors in the New York company consist of founding investor Leonard Green & Partners, General Atlantic, Lion Capital, Simon Home Group, Brookfield Residence’ retail group and Shaquille O’Neal.