Saks Global in Talks to Sell 49% of Bergdorf Goodman, WSJ Says

The owner of storied retailer Saks Fifth Avenue is exploring selling 49% of Bergdorf Goodman for about $1 billion, the Wall Street Journal reported.

Citing people familiar with the matter, the paper said that there are at least four potential bidders, including Middle Eastern sovereign wealth funds that weren’t named.

The report quoted Richard Baker, executive chairman of Saks Global, as saying the group has begun a “strategic process” to explore selling a minority stake.

Saks Global, as the combination of the department store chains is called, in recent months has overhauled its capital structure, including reworking ...