SLIM SAKS STAKE HIKED
NEW YORK — Mexican billionaire Carlos Slim Helu has again upped his stake in Saks Inc., this time to nearly 15 percent.
Orient Star Holdings, the company controlled by Slim and his family, reported to the Securities and Exchange Commission that it acquired 1.95 million shares of Saks for about $17 million during the month of December. This gives Orient Star a 14.8 percent stake in the retail firm. Prices per share ranged from $8 to $10.13.
As reported, Orient Star stated in March that it held about 7 percent of Saks’ shares. That figure rose to 10.7 percent in September, according to a subsequent SEC filing.
Purchases reported last month lifted the stake to 13.4 percent.
Shares of Saks rose 56 cents to $11.63 in New York Stock Exchange trading Wednesday. The shares have ranged in price from $7.63 to $16.19 during the past year. They have moved up slowly but steadily since hitting their trough on Dec. 7.
Last month, Orient Star bought shares for as little as $8.02, on Dec. 4, and as much as $10.13, on Dec. 28.