Sept 5 (Reuters) - Icelandic investor Baugur Group, which has expressed an interest in buying upscale retailer Saks Inc (SKS.N: Quote, Profile, Research, Stock Buzz), is unlikely to pursue a bid this year, sources told the New York Post.
Jon Asgeir Johannesson, chairman of Baugur Group, said in August he was "actively" interested in Saks and he had the cash to bid for it, but a source close to him told the paper that tight credit markets and a poor economic outlook had made financing all but impossible at current prices.
Baugur, which owns Britain's House of Fraser department stores, has been interested in Saks for a while.
Last year, Baugur said in a regulatory filing that it intended to hold discussions with Saks's board about a possible acquisition. But in April, the company said it was content with its roughly 8 percent stake and would not pursue a takeover.
No one was available at Saks or Baugur for comments. (Reporting by Sweta Singh in Bangalore, editing by Will Waterman)
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