Luxury British department store Selfridges gained new owners with its sale to a Thai retailer Central Group (BK: CRC) and Austrian property company Signa Group. These companies will each have a 50% stake in Selfridges.
However, the parties have not disclosed the details of the transaction. Despite this, the British press estimates the sale to be around $5.36 billion.
As per the deal, the new owners will take over 4 of the existing department stores in the UK. They will take over 18 of the 25 existing stores and also hope to build a luxury hotel alongside the Oxford Street flagship.
Along with this, the sale will also include department stores Brown Thomas and Arnotts in Ireland and De Bijenkorf in the Netherlands. Furthermore, the deal also includes the sale of Selfridges prime ...
