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Saudi Arabia’s Public Investment Fund is set to become a minority partner in UK department-store chain Selfridges after buying out the position of the now-insolvent Signa Group.
The PIF will take a 40 percent stake in both the property and operating businesses of Selfridges, according to an emailed statement from current co-owner Central Group. The Thai retail conglomerate will own a 60 percent stake, with the deal including new investment from both shareholders to shore up Selfridges’…
