The owners of Selfridges have reportedly begun the sale by auction of the department store business with bids expected to start at £4 billion.
The Times is reporting that so far, two or three parties have expressed interest in the business, but no formal bids have been made. Other sources have already mentioned that Sovereign wealth funds, such as Adia, the Public Investment Fund of Saudi Arabia, and the Qatar Investment Authority, have expressed interest.
Credit Suisse will oversee the bidding process and aim to complete a deal by the end of the year.
