Department Stores
Saudi wealth fund looks to up Selfridges stake to 50%
The PIF currently owns a 10% share in the Selfridges properties and has reportedly offered to buy the remaining 40% stake for a cash price of $1.3m (£1m)
Saudi Arabia’s Public Investment Fund has reportedly made an offer to raise its stake in Selfridges from 10% to 50%, according to documents seen by Bloomberg News.The move comes after the department store’s co-owner Signa fell into insolvency earlier this year.
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