30 Jan 2012 09:15

IKEA optimizes ownership structure in Russia

MOSCOW. Jan 30 (Interfax) - The Federal Anti-Monopoly Service (FAS) has approved the application of LLC IKEA Mos (Retail & Property) to acquire 41.59% of the core production assets of LLC IKEA Torg, the regulator said in a statement.

"Obtaining the permission from FAS is one of the stages of the investment project aimed at formalizing rights to properties, which will enable IKEA to more effectively develop its business in Russia," a representative of IKEA in Russia told Interfax.

In Russia, where IKEA has had a presence since 2000, the company works through LLC IKEA Dom and LLC IKEA Mos, which respectively manage IKEA stores and Mega shopping centers in the country.