Saudi’s PIF to acquire 40% stake in Selfridges
Saudi’s Public Investment Fund will acquire a 40% stake in luxury department stores chain Selfridges, to undergird its international footprint.
The sovereign wealth fund will form a strategic partnership with Central Group, Thailand’s retail and hospitality conglomerate and a majority shareholder of the Selfridges Group.
Central Group and Austrian real estate company Signa Group acquired Selfridges in 2021 in a deal worth $5 billion. Central Group gained control of the British luxury retailer towards the end of last year, as Signa Holdings faced a real estate crisis.
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