BANGKOK -- Thai retail giant Central Group is set to acquire British luxury department chain Selfridges Group in a move aimed at expanding its presence in the European retail and e-commerce market.
Central will partner with Austrian real estate investor Rene Benko's Signa in the deal reported to be 4 billion British pounds ($5.3 billion). "The parties expect closing to occur upon the receipt of regulatory approvals and the satisfaction of other closing conditions," said a statement released jointly from Central, Signa and Selfridges on Friday.
