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Saudi Arabia’s Public Investment Fund (PIF) is reportedly exploring a deal to buy co-owner Signa Prime’s stake in Selfridges.
Selfridges
The Saudi wealth fund is considering a £1m bid for the stake, which would take its ownership from 10% to 50%, Bloomberg reported. As a creditor, the deal would slash Signa’s debt to PIF by £52m.
The other 50% of Selfridges is owned by Thai retail conglomerate Central Group, which took majority control at the end of last year after Signa filed for insolvency.
Signa and Central Group each bought a stake in the 540,000 sq ft Oxford Street store – the UK’s second largest retail premises after Harrods – for £4bn in 2021.
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