The Saudi public investment fund wants 50% of Selfridges

On July 15, following the publication of an insolvency report on the Austrian property company Signa, the Saudi Arabian Public Investment Fund (PIF) wants an increased stake in Selfridges (2023 sales: US$1.1 billion, up 29% in a year). The fund, which already owns 10% of the British luxury department store, wants a further 40%. The Fund has reportedly offered US$1.3 million in cash to Signa (holder of 50% of Selfridges, alongside Central Group since 2022 as part of a JV), according to...