Ikea Rids Itself of Russian MEGA Stores in Gazprombank Deal

Ingka Centres, a part of furniture giant Ikea’s biggest retailer group, said it had reached an agreement to sell its Russian portfolio of 14 MEGA shopping centers to a subsidiary of the Gazprombank Group.

Ingka Centres, a subsidiary to Ingka Group, has been conducting business in Russia for over 20 years, and won’t have any operational business in the country after the sale, according to a statement on Thursday. Ingka workers in Russia will be employed by the new owner.

In the spring of 2022, Inter Ikea Group and Ingka Group decided to pause its Ikea operations in Russia ...