Central group and Signa will jointly own the chain which includes Selfridges, Arnotts and Brown Thomas stores.
By Bloomberg
Published On 24 Dec 2021
The billionaire dynasty behind Selfridges & Co. has sold the British department store operator to a Thai-Austrian joint venture for about 4 billion pounds (£5.4 million) in one of the biggest U.K. retail deals in years.
The Weston family said Central Group, which is owned by the Chirathivats, one of Asia’s wealthiest families, and Signa Holding of Austria, have formed a joint venture to buy the retail group. Central and Signa will own the chain in a 50-50 partnership, according to a statement late Thursday London time.
The purchase price was not formally disclosed but is close to 4 billion-pounds ($5.4 billion), according to two people with knowledge of the transaction who asked not to be named because the information is confidential. This makes it one of the top 10 biggest takeovers targeting a U.K. company this year, according to Bloomberg data.
Bloomberg previously reported the Weston family was…
