Bidders ‘eye stakes’ in Selfridges

Selfridges could again be at the centre at a battle for control.

Less than three years after Thailand’s Central Group and Austrian group Signa successfully secured a £4bn deal to buy Selfridges from the Weston family in the face of interest from the Abu Dhabi Investment Authority and Hong-Kong department store Lane Crawford, another Middle East investment fund and a goods luxury group are examining a major investment.

Saudi Arabia’s Public Investment Fund and Gucci parent Kering are considering acquiring a stake, according to The Telegraph.

The collapse of Signa last November has opened up the possibility of buying its 50% share in Selfridge’s property company and 35% stake in the operating company.

Signa had owned 50% of both with Central Group by last year Central converted a £317m loan into shares, to give it a majority stake.

However legal proceedings in Austria over the future of Signa are likely to delay any short-term move for its stakes.

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