Saudi Wealth Fund Takes 40% Stake in Selfridges
Saudi Arabia’s Public Investment Fund (PIF) acquired a 40% stake in Selfridges Group, the luxury department store operator, for an undisclosed sum. The deal gives PIF joint ownership of the flagship Selfridges store on London’s Oxford Street and 17 other locations.
PIF partnered with Thailand’s Central Group, which retains the remaining 60% stake, to buy out Austrian property company Signa Group. Signa had previously held the 40% stake but filed for insolvency last year.
The acquisition aligns with PIF’s strategy of investing in key global sectors. “This transaction allows Selfridges Group to build on its position as a premier retail destination,” said Turqi Al-Nowaiser, head of PIF’s international investments division.
The deal marks the latest Saudi investment in the UK, following PIF’s involvement in Newcastle United football club and LIV Golf.
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