RETAILING

Saudis Buy Stake in Saks: United Saudi Commercial Bank said it has bought a $100-million stake in Saks Fifth Ave. on behalf of a group of Saudi investors that includes Saudi Prince al-Walid, the largest individual stockholder in New York-based Citicorp. Saudi bank officials said the stake represents more than 11% of the total book value of the fashion retailer, which was put at $900 million. They said the bank bought the stake on Dec. 22 from Bahrain-based Investcorp Bank, which, with a group of Persian Gulf-based investors, acquired Saks for $1.6 billion in 1990.