NEW YORK (NEWSnet/AP) — The parent company of Saks Fifth Avenue has signed a deal to buy Neiman Marcus Group, which owns Neiman Marcus and Bergdorf Goodman stores, for $2.65 billion.

Amazon will hold a minority stake.

The new entity will be called Saks Global, comprising 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.

HBC 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, which is the lead underwriter, Citigroup, Morgan Stanley, RBC Capital Markets, and Wells Fargo.

The pact was announced Thursday after months of rumors that the department store chains had been negotiating a deal.

The venture should help to reduce operating expense and create more negotiating power with vendors.

Saks Fifth Avenue currently operates 39 stores in the U.S., including its Manhattan flagship.