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ANCHORAGE, Alaska--(BUSINESS WIRE)--Dec 19, 2024-- Cook Inlet Region, Inc. (CIRI), an Alaska Native regional corporation, announced the purchase of OSC Edge (OSC), a leading provider of IT engineering, integration and testing and data management services to government and private-sector businesses. “I applaud the Board’s decision to move forward with this acquisition. It reflects our shared commitment to growth, innovation and creating long-term value for our Shareholders,” CIRI CEO Swami Iyer said. Founded in 2008 and headquartered in Atlanta, Georgia, OSC Edge provides expert solutions in Enterprise IT to the government and commercial organizations. OSC’s staff, comprising over 300 team members spanning 27 U.S. states, multiple countries, and 3 continents, is committed to providing the highest quality IT engineering, integration and testing, and data-management services. OSC Edge is a graduated 8(a) company. As a CIRI subsidiary, OSC will gain access to new networks, enhanced operational capabilities and the potential for increased scalability, positioning the company for greater success in a competitive environment. Co-founder Tiffany Bailey will remain as OSC’s president and CEO. “I’m incredibly excited about this new chapter and the opportunities that come with being part of the CIRI family,” Bailey said. “This acquisition marks a significant milestone for our company and I truly believe it will fuel our growth and success.” OSC adds to CIRI’s diverse and strategic business portfolio that currently exceeds $1 billion in assets. The acquisition aligns with CIRI’s long-term business strategy. Cook Inlet Region, Inc., also known as CIRI, is one of 12 land-based Alaska Native regional corporations created pursuant to the Alaska Native Claims Settlement Act (ANCSA). CIRI’s regional boundaries roughly follow the traditional Dena’ina territory of Southcentral Alaska. CIRI was incorporated on June 8, 1972, and is owned today by a diverse group of more than 9,400 Shareholders who live in Alaska and throughout the world. View source version on businesswire.com : https://www.businesswire.com/news/home/20241219707075/en/ CONTACT: Lori Nelson 907-263-5131 media@ciri.com KEYWORD: ALASKA GEORGIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: TECHNOLOGY SECURITY OTHER TECHNOLOGY PUBLIC POLICY/GOVERNMENT SOFTWARE NETWORKS INTERNET HARDWARE DATA MANAGEMENT OTHER POLICY ISSUES SOURCE: Cook Inlet Region, Inc. Copyright Business Wire 2024. PUB: 12/19/2024 04:30 PM/DISC: 12/19/2024 04:30 PM http://www.businesswire.com/news/home/20241219707075/en

NEW YORK--(BUSINESS WIRE)--Dec 23, 2024-- Saks Global, a leading luxury retail and real estate company, has finalized its acquisition of Neiman Marcus Group (NMG) for a total enterprise value of $2.7 billion. Saks Global now includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH, each continuing to serve customers under their own brand. Richard Baker, Executive Chairman of Saks Global, said, “This milestone transaction marks a transformative moment for Saks Global and the luxury retail industry. By uniting Neiman Marcus, Bergdorf Goodman, and Saks Fifth Avenue, we have created an unparalleled multi-brand luxury portfolio with tremendous growth potential. With data and innovation at our core and a portfolio of prime real estate, we aim to redefine the luxury shopping experience.” Marc Metrick will serve as CEO of Saks Global Operating Group, and Ian Putnam will serve as CEO of Saks Global Properties & Investments. Both will report to Richard Baker, Saks Global’s Executive Chairman. Saks Global Operating Group Powered by data-driven technology and with a strengthened financial position, Saks Global is primed to deliver personalized, inspiring shopping experiences, and to be a stronger partner to brands in reaching their target customers. Marc Metrick, CEO, Saks Global Operating Group, said, “Bringing these iconic brands together is a significant step forward for luxury retail. As one company, we have an opportunity to transform the way we serve consumers, blending art and science to ensure each customer's experience is unmistakably their own. With deep relationships across the industry, cutting-edge personalization and strategic technology partnerships, we are poised to drive innovation and growth. I look forward to working with the many talented leaders and employees from NMG and across Saks Global as we embark upon our journey to bring these businesses together.” To ensure Saks Global is best positioned to drive the growth of its luxury businesses, the company has established the role of President & Chief Commercial Officer. Emily Essner, who previously served as Chief Marketing Officer at Saks, has been promoted into this role, leading the company’s go-to-market strategy by aligning key commercial functions to enhance the customer experience and drive revenue. Metrick added, “This role will break the mold for how we bring the luxury shopping experience to life. Emily is the ideal person to lead this critical new function and advance our strategy to meet customers’ increasing demand for individualized experiences.” Bergdorf Goodman will remain a standalone business under the Saks Global umbrella, building upon its reputation for distinct, curated luxury shopping. Tracy Margolies, who previously served as Chief Merchandising Officer for Saks, has been appointed President. Metrick continued, “Tracy’s deep expertise and track record of leading results-driven strategies will propel Bergdorf Goodman into the future while honoring its unique legacy. I am confident she is the right person to lead this storied business’ next chapter and look forward to what Bergdorf Goodman will accomplish under her leadership.” To support its transformation strategy, Saks Global has appointed Bill Bine to the new role of Chief Transformation Officer. Bine joins Saks Global from Neiman Marcus Group where he served as Chief Supply Chain Officer. Metrick added, “A highly strategic, results-oriented executive, Bill’s significant experience leading large-scale business transformation and operations in retail will be instrumental to our integration journey.” Saks Global Properties & Investments Saks Global Properties & Investments includes Saks Fifth Avenue and Neiman Marcus flagship properties with a $7 billion Gross Asset Value portfolio in luxury markets and is responsible for executing strategic transactions. Ian Putnam, CEO of Saks Global Properties & Investments, said, “With the addition of the Neiman Marcus assets, our real estate and development teams look forward to continuing to opportunistically unlock value from our robust portfolio. Additionally, our investments team will continue to focus efforts on strategic opportunities to enhance both the operating business and our real estate portfolio.” Strategic Relationships As an investor, Amazon will work with Saks Global to innovate on behalf of customers and brand partners. Authentic Brands Group (Authentic), a global brand owner and licensing company, is an investor in Saks Global, and is Saks Global’s joint venture partner in Authentic Luxury Group (ALG). ALG leverages the combined capabilities of Authentic and Saks Global to maximize the potential of Authentic’s luxury brands across key sectors, including fashion, retail, digital, hospitality, real estate, art, and travel. Salesforce is an investor in Saks Global, and will support the business by enhancing its personalization strategy by utilizing first-party data and AI to create a highly customized shopping experience. G-III Apparel Group is an investor in Saks Global, and will continue to support the company as a key merchandising partner. Canadian Retail and Real Estate Assets As a result of this transaction, HBC’s Canadian business and real estate assets and Saks Global will be separately financed. Hudson’s Bay, including its stores and TheBay.com , has been recapitalized and is positioned to execute on its business plan. Hudson’s Bay will continue to own or lease a CAD$2 billion real estate portfolio, either entirely or with its joint venture partner, RioCan Real Estate Investment Trust. Transaction Details The transaction is financed through a combination of equity contributions from new investors, including Amazon, Authentic Brands Group, Salesforce, M. Klein & Company, G-III Apparel Group, and others, an issuance of $2.2 billion of Senior Secured Notes, and an Asset-Based Lending (ABL) revolving credit facility. Existing investors, including Rhône, Insight Partners, Abu Dhabi Investment Council, Abrams Capital, and others are maintaining their ownership in the new structure. Advisors M. Klein & Company served as financial advisor and capital markets advisor to Saks Global on the acquisition of Neiman Marcus Group and related financings. Solomon Partners also served as a financial advisor to Saks Global. Jefferies LLC served as a financial advisor to Saks Global and was also Lead Left Bookrunning Manager for the Senior Secured Notes issuance. BofA Securities, RBC Capital Markets, Citigroup Global Markets Inc., and Morgan Stanley served as financial advisors to Saks Global, led the Asset-Based Lending (ABL) revolving credit facility, and served as Joint Bookrunning Managers for the Senior Secured Notes issuance. Elm Street Advisors served as strategic, commercial and operational advisor. Deloitte served as a financial and tax advisor to Saks Global. Willkie Farr & Gallagher LLP served as legal counsel to Saks Global. About Saks Global Saks Global is a combination of world-class luxury retailers, including Saks Fifth Avenue and Saks OFF 5TH , as well as a portfolio of prime U.S. real estate holdings and investments. Saks Global is deeply committed to helping luxury consumers discover the most sought-after established and emerging brands from around the world. Powered by data-driven technology and centered on the customer, Saks Global is on a mission to redefine the luxury shopping experience through highly personalized service, with greater opportunities for product discovery across all channels. About Neiman Marcus Group NMG is the parent company of leading U.S. multi-brand luxury retailers Neiman Marcus and Bergdorf Goodman. The company successfully transformed itself into a profitable luxury relationship business by Revolutionizing Luxury Experiences for customers, brand partners, communities, and associates. Its differentiated business model is anchored around integrated retail, an expertly curated product assortment, and a sales-assisted approach. For more information visit neimanmarcusgroup.com to view our Info Kit. View source version on businesswire.com : https://www.businesswire.com/news/home/20241223806550/en/ sakspress@saks.com KEYWORD: NEW YORK UNITED STATES NORTH AMERICA CANADA INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE ONLINE RETAIL CONSTRUCTION & PROPERTY LUXURY TRAVEL DEPARTMENT STORES ARTS/MUSEUMS ENTERTAINMENT FASHION RETAIL OTHER TRAVEL SOURCE: Saks Global Copyright Business Wire 2024. PUB: 12/23/2024 05:25 PM/DISC: 12/23/2024 05:25 PM http://www.businesswire.com/news/home/20241223806550/en

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Housing developer Ovialand Inc. saw its net income for the first nine months of the year grow more than double to P495 million, thanks to rising property demand outside Metro Manila. The Olivares family-led company on Friday said revenues likewise jumped by 30 percent to P1.44 billion. Ovialand turned over 469 house-and-lot units to homebuyers during the January to September period. This represents an increase of 18.7 percent from 395 units previously. READ: Ovialand eyes commercial biz with launch of ‘Sentro’ “Our financial results indicate a long-term trend of sustained demand for properties located in key areas outside—but still accessible from—Metro Manila,” Ovialand president and CEO Pammy Olivares-Vital said in a statement. Ovialand, which has projects in the provinces of Laguna, Batangas, Quezon and Bulacan, plans to expand its presence across the country’s three main island groups by 2033. Earlier this month, the company unveiled the 9.7-hectare (ha) Sentro Properties, its second housing project with Japanese developer Takara Leben Co. Ltd. The new project will add 746 housing units to Ovialand’s portfolio in San Pablo City, Laguna. According to Olivares-Vital, the units will be sold at P3 million to P5 million each, depending on the size. Turnover of the town house, duplex and single-detached units will begin in late 2025. Also, the company earlier announced plans to build a commercial center within Sentro Properties, marking Ovialand’s first venture outside the residential sector. Olivares-Vital said the commercial center would take up around 10 percent of the 9.7-ha total land area and house pediatric and dental clinics, among others. Meanwhile, Ovialand will begin the first batch of unit turnovers next month for Savana South, its first project with Takara Leben that will have 657 units. The Japanese firm is a subsidiary of Tokyo Stock Exchange-listed Mirarth Holdings Inc. Its major projects include condominiums, hotels and offices. In September, Ovialand said it would push back its planned stock market debut to next year as it awaited more favorable market conditions. Experts have said that while the interest rate easing cycle would positively impact the real estate sector, mortgage rates may remain elevated until mid-2025 as land values and construction costs are still high. Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . Ovialand’s initial public offering will involve the sale of up to 396 million shares for P5.60 each, although Olivares-Vital said it could have a bigger valuation to factor in the company’s growth.

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