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Meeting Places, Announcements ~ September 28, 2023

Ingka Centres Sells its Russian Portfolio of Shopping Centres

In the spring of 2022, Inter IKEA Group and Ingka Group announced the pausing of IKEA operations in Russia and Belarus as a consequence of the war in Ukraine, and due to interruptions of supply chains across the world. All IKEA stores in Russia (17 stores in total) were closed in the summer of 2022.

Now we can confirm that Ingka Centres has reached an agreement to sell its Russian portfolio of 14 MEGA shopping centres to a subsidiary of the Gazprombank Group. Ingka Centres co-workers in Russia will be employed by the new owner.

Ingka Centres has been conducting business in Russia for over 20 years. Divestment of the entire Russian portfolio of shopping centres has taken time as it is a sensitive, highly complex and confidential process. This is due to the scale of the portfolio, operational complexity, the regulatory landscape and the importance of MEGA shopping centres to the people and communities.

After the divestment of the shopping centres Ingka Centres has no operational business in Russia.

Press release