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On Tuesday, November 14<\/strong>, Thailand’s Central Group<\/strong> announced its full acquisition of the prestigious British luxury department store chain Selfridges<\/strong>. This transaction follows the financial difficulties of its Austrian partner, Signa Holding<\/strong>, with whom Central Group had acquired the chain in 2021<\/strong>.<\/a><\/p>\n <\/p>\n To complete the deal, Central Group converted a loan into shares, thus becoming the majority shareholder in Selfridges, which comprises 18 department stores<\/strong>. The deal also includes De Bijenkorf<\/strong> in the Netherlands and Brown Thomas and Arnotts<\/strong> in Ireland.<\/p>\n <\/p>\n Details of the transaction were not disclosed.<\/p>\n <\/p>\n “Central Group will become the majority shareholder and take control of the joint venture for the operating companies within Selfridges Group,”<\/em> said the Asian conglomerate. “This decision consolidates Central Group as the owner-operator of Europe’s largest luxury department store group, offering customers the best selection of brands, merchandise and extraordinary experiences.”<\/em><\/p>\n <\/p>\n <\/p>\n Signa Holding, formerly controlled by Austrian businessman Ren\u00e9 Benko<\/strong> through a series of trusts, had acquired Selfridges in partnership with Central Group in 2021 for 4.6 billion euros<\/strong>.<\/p>\n <\/p>\n Central Group is owned by the Chirathivat<\/strong> family, whose wealth is estimated at $11.6 billion<\/strong> according to Forbes. The group operates in various sectors, including retail, hotel and restaurant businesses based in Asia.<\/p>\n <\/p>\n Central Group and Signa Holding continue to own leading names in the luxury department store sector. They acquired Rinascente in Italy in 2011, Illum in Denmark, KaDeWe, Oberpollinger and Alsterhaus in Germany in 2015, and Globus in Switzerland in 2020.<\/strong><\/p>\n <\/p>\nEnd of a partnership<\/h2>\n
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