As part of the deal, the Nordstrom family will have majority ownership in the company, with 50.1%, and El Puerto de Liverpool will own 49.9%.

Nordstrom said Monday that it would be taken private after agreeing to be acquired by members of the Nordstrom family and a Mexican department store company. The Nordstrom family and El Puerto de Liverpool will purchase all outstanding common shares they don’t already own in a cash transaction valued at roughly $6.

Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group for $6.25 billion, the company said Monday