British department stores Selfridges flies under Thai-Saudi flag

On October 7, 2024, the Saudi Arabian public investment fund announced acquisition of Austrian Signa‘s shares in Selfridges Group. The Saudi government thus becomes a 40% minority shareholder in the group. With this acquisition, the Saudi investment fund (US$925 billion in assets) co-owns the group’s 18 luxury department stores, under the 4 brands of Selfridges, Arnotts, Brown Thomas and de Bijenkorf.

To remember: Although an offer of US$1.3 billion was announced last July for the purchase...