Saudi Arabia has been identified as the backer of the £4bn ($5.14bn) takeover of London's iconic Selfridges department store, The Telegraph reported on Sunday, citing sources. The Saudi Public Investment Fund (PIF) acquired an interest in the Oxford Street giant via Australian firm Signa Holdings, which bought a 50pc stake in Selfridges in August 2022. The kingdom's sovereign wealth fund had a minor contribution towards Signa's winning bid, which was in partnership with Thai retailer Central Group. The joint venture beat a bid by Qatar's sovereign wealth fund, which owns rival London department store Harrods. Saudi Arabia's investment in Selfridges adds to its growing
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