Gulf sovereign wealth funds eye Selfridges
What: Several sovereign wealth funds such as Abu Dhabi’s Adia, Saudi Arabia’s Public Investment Fund and also the Qatar Investment Authority, which already owns the Harrods department stores, expressed interest without a formal offer. Lane Crawford (based in Hong Kong) is also considered a potential buyer.
Why it is important: In June 2021, Selfridges was approached by an investor with an offer of more than GBP 4 billion (twice the amount of pre-pandemic sales, which reached GBP 1.97 billion in 2019). In 2010, the Qatar Investment Authority purchased Harrods with an offer of 3.2 times the turnover.
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