UPDATE 1-IPO likely Neiman Marcus option as underwriters chosen
* Syndicate of banks appointed for possible IPO -sources
* Neiman Marcus has also hired Credit Suisse to look at sale
* Company has been in private equity hands since 2005
By Soyoung Kim and Olivia Oran
Aug 5 (Reuters) - Neiman Marcus has appointed a syndicate of banks for a possible initial public offering, two people familiar with the matter said on Monday, in the latest sign that the high-end department store is leaning towards a listing over pursuing an outright sale.
Neiman Marcus has also hired Credit Suisse to run a sales process for the company, which has yet to find a buyer, sources have previously told Reuters.
Sources on Monday said Neiman Marcus' private equity owners are still keeping options for their long-held investment open and may decide to sell the company if a buyer comes along.
The Dallas, Texas-based company, owned by TPG Capital, Warburg Pincus LLC and Leonard Green & Partners LP, has selected Credit Suisse AG, Bank of America Corp and JPMorgan Chase & Co to lead the potential IPO, the sources said.
The people asked not to be identified because the matter is confidential. TPG, Warburg and Leonard Green declined to comment, while Neiman Marcus did not respond to a request for comment. Credit Suisse, Bank of America and JPMorgan declined to comment. Continued...