Saudi Public Investment Fund (PIF), controlled by Crown Prince Mohammed bin Salman, has bought 40 per cent of shares in Selfridges after the collapse of Austrian conglomerate Signa.

LONDON: Saudi Arabia’s sovereign wealth fund said it will buy 40 percent of luxury department-store group Selfridges following the collapse of Austrian conglomerate Signa.

It comes after Austrian real estate conglomerate Signa, which had co-owned Selfridges with Thai firm Central, collapsed into insolvency last year.

Thailand-based conglomerate Central Group has announced a partnership with Saudi Arabia's Public Investment Fund (PIF), following the latter's agreement for a total buyout of Signa's interest in Selfridges Group.

Saudi Arabia has struck a deal to become the junior partner in the iconic London department store Selfridges after buying out a bust Austrian property tycoon...

Saudi Arabia’s Public Investment Fund is set to become a minority partner in UK department-store chain Selfridges after buying out the position of the now-insolvent Signa Group.

Saudi Arabia’s Public Investment Fund (PIF) is now a joint owner of the business behind upmarket department store chain, Selfridges.

Thailand’s Central Group and Saudi Arabia’s Private Investment Fund agreed to form a partnership following the latter’s acquisition of a 40% interest in Selfridges.

Saudi Arabia’s Public Investment Fund (PIF) is set to become a minority shareholder in the luxury British department store chain Selfridges. The sovereign wealth fund has signed a binding agreement for a total buyout of the insolvent Signa Group’s position,

PIF has taken a 40 percent stake in Selfridges' operating and property businesses, with Central Group raising its majority stake in the retailer to 60 percent.