Saudi Arabia’s PIF revealed as backer of the GPB 4 billion Selfridges takeover
What: Saudi Arabia’s Public Investment Fund has been identified as the sponsor of the GBP 4 billion takeover of the Selfridges department store.
Why it is important: The investment in Selfridges is part of the Saudi PIF’s expanding portfolio of UK investments.
The fund was able to acquire an interest in Selfridges through Signa Holdings and outbid the Qatari sovereign wealth fund that owns Harrods. The PIF is part of the country’s Vision 2030 initiative to ease its economy away from the reliance on its energy sector.
Saudi Arabia’s PIF revealed as backer of the GPB 4 billion Selfridges takeover
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EU moves to end €150 customs duty exemption for low-value imports
EU moves to end €150 customs duty exemption for low-value imports
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