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Selfridges is reported to agree to sell to Central Group in Thailand

It is reported that a new owner of the British department store chain Selfridges was soon revealed.

According to the Times, the current owner of the iconic retailer, the Weston family of billionaires, has agreed to sell its business to Central Group in Thailand. The family wants the transaction to be completed by the end of the year.

Selfridges has not commented on this report.

According to The Times, the deal will include £ 2 billion worth of the company’s assets, but it’s unclear how much Selfridges will sell.

Earlier reports, the Weston family was aiming for a £ 4 billion price tag.

Selfridges exchanging hands

Selfridges owners launched a formal auction of the company in the summer, calling on investment bank Credit Suisse advisors to send information notes “soon” to prospects.

Selfridges was founded by Harry Gordon Selfridges in 1908 and was purchased by the Weston family in 2003 for a £ 598 million transaction.

The reins of the Selfridges group were handed over to his daughter Alanna from the late WG Galen Weston two years ago.

Currently, the company has 25 stores worldwide, including Oxford Street in London, Brown Thomas and Arnotts in Ireland, Holtrenfrew in Canada, and Debye Encorf in the Netherlands.

Selfridges is reported to agree to sell to Central Group in Thailand

Source link Selfridges is reported to agree to sell to Central Group in Thailand

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