The new owner of British clothing retailer Selfridges has – as per media reports – raised € 750 million in fresh equity.
The investment will help support the retailer’s plans of backing European luxury retail estate.
Early August had seen the Weston Family formally complete the sale of the Selfridges Group to a partnership that comprised Central Group and Signa Holdings.
Also Read: Central Group and Signa Holdings to run Selfridges in partnership
Ever since the sale, Signa Prime Selection – the largest company in Signa Group’s real estate division – has, reportedly, raised its capital by 12 per cent.
Meanwhile, shares were subscribed by current shareholders, with Kuehne Holding, the investment vehicle of German logistics scion Klaus-Michael Kuehne, raising its stake from 7.5 per cent to 10 per cent.
Selfridges was founded in 1908 and has its headquarters in London.
