Saudi Arabia’s sovereign wealth fund the Public Investment Fund (PIF) has offered to acquire an additional 40% stake in the Selfridges properties, according to documents obtained by The move comes after Signa Holding, the co-owner of the retailer, went into insolvency in December 2023. The gold standard of business intelligence. PIF, which currently holds a 10% share in the properties, aims to acquire the additional stake from Signa’s flagship property unit for £1m ($1.
3m) in cash. The fund will then have raised its stake in the UK department store Selfridges to 50%. The remaining half of Selfridges is held by Thai retail conglomerate the Central Group.
The properties to be purchased by PIF include locations on London’s Oxford Street and in Manchester. Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research.
Gain competitive edge. Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form The Saudi wealth fund is reportedly conducting due diligence with the assistance of advisers.
The potential acquisition is part of the broader dissolution of the Selfridges empire, established by Austrian real estate, media and retail investor Rene Benko, which began after the insolvency of key property units at the end of 2023. Benko .