Thailand’s largest department store owner, Central Group, has announced it has taken control of Selfridges department stores.
Central Group and Rene Benko’s Austrian real estate company Signa Group bought Selfridges in 2021 in a deal worth $5bn.
Benko this month handed over control of Signa to a restructuring expert.
Central Group is owned by Thai billionaires the Chirativat family.
Central will gain control of the joint venture unit that also operates Brown Thomas & Arnotts in Ireland, and De Bijenkorf in the Netherlands.
Central said the moves “solidifies” its position as an owner-operator of the largest European luxury department store group.
Selfridges was founded in 1908 by Harry Gordon Selfridge and is best known for its flagship store in Oxford Street, London.