Riyadh – Mubasher: The Saudi Public Investment Fund (PIF) entered into a strategic partnership with Central Group, a leading retail, real estate, and hospitality conglomerate.
This alliance follows a binding agreement for the total buyout of Signa Group’s interest in Selfridges Group by PIF, which is subject to customary and applicable regulatory approvals.
Under this contract, PIF will hold 40% of both Selfridges Group’s operating and property companies, while Central Group will own the remaining 60%, according to a press release.
New investment by both PIF and Central will injected to strengthen Selfridges Group’s position and support future development.
By integrating PIF's investment capabilities with Central Group’s industry leadership, this collaboration will accelerate the growth of Selfridges Group, anchoring its position as a leading force in European luxury retail.
Turqi Al Nowaiser, Deputy Governor and Head of the International Investments Division at PIF, said: “This transaction allows Selfridges Group to build on its position as a premier retail destination.”
Earlier this month, Roshn Group, a subsidiary of PIF, secured a SAR 9 billion syndicated credit facility.
