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Selfridges sold as part of £4bn deal
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theguardian.comThe family owners of Selfridges have sold out to a Thai retailer and an Austrian property company for an estimated £4bn ($5.36bn) in a deal which sees the return of the luxury department store’s former boss Vittorio Radice.
Thailand’s Central Group and Austrian real estate company Signa Holding already jointly own major department stores in Italy, Germany and Denmark via a division run by Radice, who left Selfridges in 2002, the year before Canada’s Weston family bought it for £628m.
The firms are thought to have beaten off rival bids from the Qatar Investment Authority, which owns Harrods, and Lane Crawford, a Hong Kong-based department store owner.
The Thai group, which began with one store in Bangkok run by Tiang Chirathivat in the 1950s,
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