The US department store Saks is about to change hands, acquired by the Canadian group Hudson's Bay for 2,9 billion dollars. Among the shareholders who will benefit from the sale are Diego della Valle, Mediobanca and Carlos Slim.
At a price of 16 dollars per share, the entrepreneur from the Marche region should collect 362 million dollars for his 15,08% stake in the capital, while Mediobanca would receive 127,7 million dollars for a 5,3% stake. The Mexican telecommunications magnate, the largest shareholder in the sold company, would be awarded 400 million dollars.
The boards of the two companies have already given the green light to the operation and the news has been confirmed by the parties. The reality that will arise from the union of the two groups will operate through 320 stores.
Based on 2012 data, pro forma revenues would have been $7,2 billion with EBITDA of $587 million. Hudson Bay expects to reach $100 million of synergies within three years.
