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A Thai retailer and an Austrian property company are buying Selfridges.
The deal for the majority of Selfridges Group is worth over $5 billion, according to the BBC.
The flagship store of the firm is on London's Oxford Street.
Selfridges was bought by the Canadian wing of the Weston family.
The flagship Oxford Street store has been at the centre of London's most famous shopping street for over 100 years, and it is a privilege to be acquiring it.
Thailand's Central Group is owned by a billionaire and is involved in merchandising, real estate, retailing, and restaurants.
Central opened its first department store in 1956 and has grown to be Thailand's largest shopping mall owner.
It has a stake in Grab and a joint venture with China'sJD.com.
Austria's largest privately owned real estate company is Signa Group, founded in 2000 by René Benko.
Both firms own major department stores in Europe.
The Selfridges Group has 25 stores worldwide and employs around 10,000 people.
Central and Signa will take over 18 stores. Selfridges' seven department stores in Canada were not part of the deal.
Signa will work with the world's leading architects to transform the stores in each location into sustainable, energy-efficient, modern spaces, while staying true to their architectural and cultural heritage.
The Weston family put the chain up for sale a few months after the death of the man who oversaw the move to take the store private.
Alannah Weston said she was proud to pass the baton to the new owners who were family businesses.
Companies.
Austria.
Thailand.
Retailing.
