Mexico’s Slim Family Acquires 7% Stake in Saks

Carlos Slim Helu and other members of one of Mexico’s wealthiest families acquired a 7% stake in Saks Inc., the owner of Saks Fifth Avenue and other department stores. The investors reported holding more than 10 million Saks shares, worth more than $120 million at current prices, according to documents filed with the Securities and Exchange Commission. Slim is the chairman emeritus of Grupo Carso, a holding company whose Grupo Sanborns retailing unit announced in January it plans to buy CompUSA Inc., the largest U.S. computer superstore chain. Grupo Sanborns operates the Mexican unit of Sears, Roebuck & Co. as well as music shops. Slim and his family in recent months have made other U.S. retail investments through their Orient Star Holdings affiliate, including the purchase of a stake in OfficeMax Inc. Shares of Birmingham, Ala.-based Saks rose 25 cents to close at $12.06 on the New York Stock Exchange.