Gazprombank division might buy Mega malls in Russia owned by Ingka - paper

MOSCOW. Sept 14 (Interfax) - A division of Gazprombank is in talks to acquire the Mega chain of shopping malls in Russia owned by Sweden's Ingka Centres, national daily Kommersant reported on Thursday, citing sources.

The paper did not specify which division of the bank. Nonetheless, the parties have already managed to reach "certain agreements," the paper's sources said, without disclosing the details.

Gazprombank did not comment on this information, while Ingka said it is considering "various options for the Mega shopping centers in Russia," the paper said.

The president of the Russian Guild of Managers and Developers, Alexander Sharapov estimated that the chain of malls is worth about $2.85 billion before the 50% discount required for their sale to be approved by the Russian government commission on foreign investment.

Ingka owns the IKEA furniture chain and Mega mall chain. IKEA halted operations in Russia in March 2022 and the group later sold its factories in Russia that made furniture and materials for the stores. There are 14 Mega malls operating in various Russian cities.