Selfridges sold to Thai and Austrian alliance in US$5bil deal

Christmas shoppers walk past the Selfridges store, amid the coronavirus disease (COVID-19) pandemic in London, Britain, December 11, 2021. Reuters

DUESSELDORF: Luxury British store chain Selfridges is being sold to a Thai retailer and an Austrian property company in a deal that a source close to the matter said was worth around 4 billion pounds (US$5.37 billion).

Thailand's Central Group and Austrian real estate company Signa Group, which already jointly own major department stores across Europe, said on Thursday they had struck a deal for the chain best known for its Oxford Street store in London.