Thailand’s Central Group and Saudi Arabia’s Private Investment Fund agreed to form a partnership following the latter’s acquisition of a 40% interest in Selfridges.

This transaction follows a binding agreement for the total buyout of Signa Group’s interest in Selfridges Group by PIF, and is subject to customary and applicable regulatory approvals

Saudi Arabia’s Public Investment Fund (PIF) is now a joint owner of the business behind upmarket department store chain, Selfridges, it has been confirmed. Thai investor Central Group has announced a deal which will see it own 60 per cent of the group’s operating and property companies,

Saudi wealth fund buys 40% stake in Selfridges - It comes after Austrian real estate conglomerate Signa, which had co-owned Selfridges with Thai firm Central, collapsed into insolvency last year.