Baugur executive chairman Jon Asgeir Johannesson has said that the Icelandic investor is still actively interested in making a bid for the retailer.
Johannesson said in an interview: “We are still looking into the company, that much is clear. Saks is a great brand. I think it has a very good chance of placing itself at the high end and proving to be a great business. That is our vision for the company.”
Johannesson added that the sale of its property, media and technology arms has freed up money for further acquisitions. “We have spotted various opportunities in the market, but we will be standing on the sidelines until after Christmas, to see how things develop.”
Baugur has also been behind a bid for Woolworths and is involved in renewed speculation that it may buy Debenhams after a strong set of first-half sales from its House of Fraser chain.