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.

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,

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 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.