Department Stores
Selfridges co-owner admits £4bn price was ‘too high’
The £4bn deal was struck as Central Group had plans to grow its European luxury store division, following its 2011 acquisition of high-end department store Rinascente in Italy
Tos Chirathivat, the executive chair and CEO of Thai family conglomerate Central Group, said in a conversation with The Financial Times that it may have overpaid for its acquisition of Selfridges and other European luxury department stores as part of a £4bn deal in 2021.
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