SOURCE: King & Spalding

August 02, 2006 10:52 ET

King & Spalding Advises Belk on $285 Million Acquisition of Parisian Department Stores in Southeast and Midwest

ATLANTA, GA -- (MARKET WIRE) -- August 2, 2006 -- King & Spalding, a leading international law firm, advised Belk, Inc., on its announced stock purchase agreement with Saks Incorporated to acquire 38 Parisian department stores in nine states in the Southeast and Midwest for $285 million.

Upon completion of the transaction, which has been approved by the boards of directors of both companies, Belk will operate 315 stores in 19 states.

The transaction is scheduled to close on October 2, 2006, and is subject to regulatory review and other customary closing conditions.

Belk, Inc., headquartered in Charlotte, N.C., is the nation's largest privately owned department store company, with 277 located in 16 states in the Southeast and Mid-Atlantic regions and fiscal 2006 sales of $2.97 billion.

The King & Spalding partner leading the team for Belk is:

--  John D. Capers, Jr., Partner (Corporate)
    
Other members of King & Spalding's Belk team include:
--  Andrew G. Berg, Partner (Antitrust)
--  Donald P. Hensel, Partner (Tax)
--  Donald S. Kohla, Partner (ERISA)
--  W. Scott Petty, Partner (Intellectual Property)
--  Jeffrey S. Spigel, Partner (Antitrust)
--  Timothy N. Tucker, Partner (Real Estate)
--  Todd D. Wozniak, Partner (Labor & Employment)
--  Jimmy F. Kirkland, Counsel (Environmental)
--  Leslie A. Oakes, Counsel (Environmental)
--  Jan G. Marsh, Consultant (ERISA)
--  Rita B. Barker, Associate (Environmental)
--  Kerry L. Broome, Associate (Intellectual Property)
--  William O. Isaacs, Associate (Intellectual Property)
--  Amanda Kunz, Associate (Labor & Employment)
--  Gavin W. Meyers, Associate (Corporate)
--  April R. Robinson, Associate (Corporate)
--  Chirag P. Shah, Associate (Corporate)
    
About King & Spalding

King & Spalding LLP is an international law firm with more than 800 lawyers in Atlanta, Houston, London, New York and Washington, D.C. The firm represents more than half of the Fortune 100, and in a Corporate Counsel survey in September 2005 was ranked one of the top ten firms representing Fortune 250 companies overall. For additional information, visit www.kslaw.com.

Contact Information

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    King & Spalding
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