Qatar, Starwood Capital and Hudson’s Bay – among the bidders for Saks Fifth Avenue
According to a report by New York Post, Qatar is the latest to bid for U.S. department store operator Saks Fifth Avenue, joining other bidders such as Starwood Capital and Hudson’s Bay, the Canadian owner of department store Lord & Taylor. Analysts indicate that Starwood Capital, led by Barry Sternlicht is the most likely successful bidder. Saks Inc. operates department store in the U.S. (its main market), U.A.E, Saudi Arabia, Mexico and Kazakhstan.
Qatar already owns iconic London department store Harrods and Parisian department store Printemps. Qatar also expressed an interest in U.S. retailer Neiman Marcus, earlier this year, however, the deal fell through.