29 Sep 2023 12:02

Gazprombank acquires Mega malls from Sweden's Ingka

MOSCOW. Sept 29 (Interfax) - The Gazprombank Group (GPB) has closed a deal to buy the Russian chain of Mega shopping centers from Sweden's Inga Centres, the bank said in a press release.

The group has acquired 14 Mega malls in various Russian cities with a combined area of 2.3 million square meters.

GPB did not disclose the other details of the deal. Ingka Centres has not yet responded to requests for comment.

Ingka owned the chain of IKEA furniture stores and Mega malls in Russia. IKEA suspended operations in the country in March 2022 and the group later sold its factories in Russia.

National daily Kommersant reported earlier that divisions of GPB might buy the Mega malls. Experts 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.