Parent company of Saks Fifth Avenue to buy rival Neiman Marcus [Video]

The parent company of Saks Fifth Avenue has signed a deal to buy upscale rival Neiman Marcus Group, which owns Neiman Marcus and Bergdorf Goodman stores, for $2.65 billion, with online behemoth Amazon holding a minority stake.The new entity would be called Saks Global, which will comprise the Saks Fifth Avenue and Saks OFF 5TH brands, Neiman Marcus and Bergdorf Goodman, as well as the real estate assets of Neiman Marcus Group and HBC, a holding company that purchased Saks in 2013.Related video above: Paycor signs lease to relocate headquarters to former Saks Fifth Avenue buildingHBC has secured $1.15 billion in financing from investment funds and accounts managed by affiliates of Apollo, and a $2 billion fully committed revolving asset based loan facility from Bank of America, the lead underwriter, Citigroup, Morgan Stanley, RBC Capital Markets, and Wells Fargo.The pact was announced Thursday after months of rumors that the department …