Saudi Arabia’s Public Investment Fund (PIF) has announced the acquisition of a 40% stake in the British luxury department store Selfridges, although specific transaction details have not been disclosed. According to a statement, PIF will continue to be the majority shareholder of the Selfridges Group and its associated real estate companies. As reported by Fashion Business News, PIF had previously planned to acquire the remaining 40% stake from Signa Group for 1 million British pounds ($1.3 million), which includes retail locations on Oxford Street in London and in Manchester.