GREENWAY GROUP ACQUIRES 290,500 SHARES OF VENATOR
NEW YORK — An investor group led by Greenway Partners L.P. has bought 290,500 shares of Venator Group, but its overall ownership position is down from a year ago.
Alfred D. Kingsley, a general partner of Greenway, spent $1.6 million to buy the shares between Jan. 9 and Jan. 29, according to a form 13D filed with the Securities & Exchange Commission Monday. Those purchases give the Greenway-affiliated group 19 million shares, or about 13.8 percent of the specialty retailer.
“We appreciate his support, and we’ll continue to work hard to increase the value of his holdings,” a Venator spokesman said.
In March 1999, when a prior 13D was filed, the group owned 20.1 million shares, or 14.8 percent of the company.
Venator shares gained 1/16 to close at 6 15/16 on the New York Stock Exchange Monday.
During 1999 the Greenway group lost a proxy battle to replace four Venator board members with its own nominees and have Venator return to its original name: Woolworth Corp. Venator operates the Foot Locker, Lady Foot Locker, Champs Sports and Northern Reflections chains.