Mediobanca acquired 5,2% of Saks Inc, the parent company of the Saks Fifth Avenue department store chain. The news of the entry of the Piazzetta Cuccia bank into the US company emerges from a filed communication from the Milanese institute to the SEC on 14 February. The text reported that, at that date, Mediobanca held a total of Saks shares close to 8 million.
The investment derives from a call option granted on a 5% stake in Saks granted by the Milanese institute to Diego Della Valle. Option that had not been exercised upon its expiration due to a fixed price far higher than the market price of the security.
