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Stake sold: The owners of Saks Fifth Avenue sold about a 5 percent equity stake to Kamehameha Schools/Bishop Estate, a Hawaiian charitable trust. Investcorp, an investment bank based in Bahrain, its clients and Saks managers still own 95 percent of the department store chain. Kamehameha’s purchase represents part of the $300 million Investcorp invested last year to expand the retail chain. In January, Investcorp sold an 11 percent stake, representing $100 million, to a Saudi Arabian prince.
