An announcement of the sale of Selfridges to a Thai department store giant is merely days away, it has been reported.
Central Group, which is Thailand’s largest department store owner, is reportedly inches away from finalising a £4bn deal to acquire the UK luxury store chain.
Two sources familiar with the matter told Reuters that the deal was days away, while The Times newspaper has also reported an announcement could be made as early as this week.
Selfridges is owned by the Canadian Weston family, who took the company private for £598m in 2003.
The billionaire Chirathivat family behind Central Group inked a deal in partnership with Signa last year, to acquire Swiss department store chain Globus.
According to The Times, Central Group has negotiated a similar deal for Selfridges.