Consortium led by WHP Global, LLC, Brookfield Properties, Inc, and Simon Property Group, L.P signed a non-binding letter of intent to acquire Retail stores and operations of Express, Inc.

Consortium led by WHP Global, LLC, Brookfield Properties, Inc, and Simon Property Group, L.P signed a non-binding letter of intent to acquire Retail stores and operations of Express, Inc (OTCPK:EXPR) for $174 million on April 22, 2024. The transaction value consists of $136 million in cash considerations and $38 million in assumed liabilities. The transaction is subject to the approval of the Bankruptcy Court.

Kirkland & Ellis LLP acted as a legal advisor, Moelis & Company LLC and M3 Partners, LP acted as a financial advisor to Express, Inc. As on June 14, 2024 court has approved the transaction.