IKEA Owner Sells 14 Shopping Centers in Russia to Gazprombank Subsidiary

Ingka, the owner of IKEA, has reached an agreement to sell its Russian portfolio of shopping centers, MEGA, to a subsidiary of Gazprombank, as stated in the company's announcement.

Delays in the asset sale were attributed to the scale of the portfolio, operational complexities, regulatory framework, and the importance of the Mega shopping centers. Following the sale of these 14 shopping centers, Ingka Centres will cease its operational activities in Russia.