Birmingham, AL. October 3, 2006–Saks Inc. said it has completed its sale of its Parisian chain to Belk Inc. for $285 million in cash.
The transaction, announced in August, closed on Sept. 30. Saks said it expects to break even on the sale on both a book and tax basis.
Shares of Saks fell $0.17 to close at $17.11 on the New York Stock Exchange.
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