Selfridges luxury department store is close to concluding a four-billion pound deal with Thailand’s Central Group. An official announcement is expected to be made in the next few days.
According to The Times, word has been circulating about the acquisition since December 1.
After the news was reported, an associate of the retail subsidiary denied the news. He stated at the time that “The company would like clarification that the company has not been involved in the transaction reported in news.”
Reported yet to be confirmed
Reuters has released new information. Sources close to the media platform claim that a deal is nearing completion. The publication states that the main Thai department store unit, Central Retail Corp Pcl could possibly take a part in Selfridges. However, it is still considering the offer.
The Times reported that the deal was nearing completion.
Selfridges and Central Group have not responded to our requests for comment at this point.
Since initial reports in June that suggested the family had received a four-billion pound offer to buy its UK properties, speculation has grown about the sale.
Galen Weston, who passed away in April, drove the Weston’s to take over the retailer in 2003 for 598million pounds.