Foreign funds eye up BT and Arnotts owner in possible €4.7bn deal

The Selfridges Group has been put up for sale by the Weston family in the wake of patriarch Galen Weston’s death last April

Family members are conscious of the legacies of the group’s brands, which go back over a century in the cases of Selfridges, Brown Thomas and Arnotts. Picture: Fergal Phillips

Private equity funds from the US and the Middle East are circling the owner of Brown Thomas and Arnotts in a possible £4 billion (€4.7 billion) deal.

The Weston family has put the Selfridges Group, which owns the two iconic Irish department stores as well as stores in Britain, Canada and the Netherlands, up for sale. Credit Suisse has been appointed to manage the process.

While several foreign funds have sought advice in the City ...