Saudi Arabia’s Public Investment Fund (PIF) has acquired a 40 per cent stake in British retail department store giant Selfridges.
PIF has announced that it will form a strategic partnership with Central Group, a leading retail, real estate and hospitality conglomerate, following PIF’s acquisition of a 40 per cent interest in the retail giant. 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.
Through this partnership, PIF will hold 40 per cent of both Selfridges Group’s operating and property companies, with Central Group owning the remaining 60 per cent. The deal includes new investment by both PIF and Central to strengthen the group’s position and support future development. This partnership aligns with PIF’s strategy of investing in key strategic sectors globally and is underpinned by a shared vision to unlock further value in the retail group.
Turqi Al Nowaiser, Deputy Governor and Head of International Investments Division at PIF, said: “We are pleased to be partnering with Central Group in Selfridges Group, one of Europe’s most iconic luxury department stores. This transaction allows Selfridges Group to build on its position as a premier retail destination.”
The group owns and operates 18 premier luxury department stores across three countries, including Selfridges in the UK, De Bijenkorf in the Netherlands and Brown Thomas and Arnotts in Ireland.
