The Wall Street Journal reports that Saudi Arabia’s Public Investment Fund is about to make a major investment in Signa Sports United, the big operator of online stores based in Berlin, which indicated four months ago its intention to go public. It would join other investors including Abu Dhabi’s sovereign wealth fund, Mubadala. According to other sources, funds worth a total of $372 million are being collected through a Private Investment in Public Equity (PIPE) in the special-purpose acquisition company, Yucaipa (YAC), with which SUU would merge in order to go public. According to the Journal, the new funds would primarily be used to promote SSU’s growth in the U.S., where it made a couple of acquisitions recently. Signa International Sports Holding, the controlling shareholder of SUU, and another shareholder, Bridgepoint, have also agreed to provide up to $178 million of additional liquidity, if necessary, in the event of elevated redemptions by YAC public shareholders and to help complete the acquisition of Wiggle Chain Reaction, the U.K.-based bike e-tailer.

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