Central Group announced that it has exercised its right to convert a loan provided by a subsidiary to the Selfridges Group into equity, subject to relevant regulatory and antitrust approvals.
As a result, Central Group will become the majority shareholder and gain control of the joint venture firm for operating companies within the Selfridges Group.
The Selfridges Group comprises the well-known department stores Selfridges in the UK, Brown Thomas & Arnotts in Ireland, and De Bijenkorf in the Netherlands.
The move solidifies Central Group as an owner-operator of the largest European luxury department store group, offering customers the best curation of brands, merchandise and extraordinary experiences.