Saturday, March 25, 2023
  • Donate
  • Newsletter
  • ru_RUРусский
  • en_USEnglish
Russian Free Press
  • Home
  • All news
  • Russia
  • Ukraine
  • World
  • Tags
    • Navalny
    • Arrests and Attacks
    • Court
    • Kazakhstan
    • Coronavirus
    • Election 2021
    • Almaty
    • Putin
    • USA
    • Murders
    • Death
    • Rape
    • Germany
  • Special Projects
    • Stories
    • One year after
No Result
View All Result
Russian Free Press

The owner of IKEA and Mega will sell all real estate in Russia – RBC

February 17, 2023
in Daily News
Share on FacebookShare on Twitter

The owner of IKEA and Mega, the Swedish group Ingka Group, has decided to sell all real estate in Russia and is looking for a buyer for more than 2 million square meters. m - this area includes Mega shopping centers and IKEA stores. After the sale of the IKEA factories, the deal will mean the complete withdrawal of the group from the country. This was told to RBC by two sources in investment companies, one source in the retail market and one more in the real estate market.

The value of the portfolio is estimated at $5 billion - $10 billion, but, according to experts, now foreigners can sell assets in Russia at a discount of at least 50%, so the transaction amount will be much lower. According to RBC sources, negotiations are underway with at least two potential buyers, whose names are not disclosed.

According to INFOLine-Analytics, the area of ​​Ingka Group is 2.3 million square meters. m, rented - 1.8 million square meters. Mikhail Burmistrov, General Director of INFOLine-Analytics, said that the value of the Ingka Group real estate portfolio in Russia is about $5 billion. Without taking into account the discounts that will be required upon sale, the cost could be $10 billion or more, said Nikolai Kazansky, managing partner of Nikoliers .

The sale of assets of companies from "unfriendly countries" from 2022 will be coordinated by a special commission under the government. Since the end of last year, the condition for the approval of transactions has also been the transfer of 10% of the transaction amount to the budget of the Russian Federation or the installment payment of assets for one or two years.

All IKEA stores in Russia suspended their work on March 4, 2022, it was noted that the decision will affect 15 thousand employees. Initially, the company did not announce a complete withdrawal from the Russian market, only the suspension of activities was reported. The group then decided to sell its factories in Russia, which produced lumber and furniture fronts for IKEA. Against the backdrop of the departure of retail chains for the manufacture of furniture in the Russian Federation, they decided to use colonies. Last summer, the GUFSIN held an exhibition of products made by prisoners in Yekaterinburg; in two days of the exhibition, contracts were signed with institutions for the manufacture of furniture for 3.5 million rubles. Ivan Sharkov, head of the department for labor adaptation of convicts of the Main Penitentiary Service of Russia for the Sverdlovsk Region, said that the colonies could well take the place of IKEA, and if we compare the furniture, prisoners have “both better quality and lower prices.”

Read also

A tornado destroyed a city in Mississippi. 23 people died

March 25, 2023

Putin announced the construction of a storage facility for tactical nuclear weapons in Belarus

March 25, 2023

AGN “Moskva”: A criminal case was opened against economist Konstantin Sonin about “fakes” about the army

March 25, 2023

KP: In Novosibirsk, a teenager died trying to escape from an orphanage through a window. He didn’t call an ambulance for several hours.

March 25, 2023

In the Rostov region, a series will be filmed about a HSE student who ends up in a war in Ukraine and “rethinks” what is happening

March 25, 2023

Ukraine not yet ready to launch counteroffensive due to lack of weapons and ammunition – Zelensky

March 25, 2023

RECOMMENDED NEWS

“We can explain”: all employees of the “Discovery” remotely will be called to return to Russia in a day or fired

5 months ago

Farewell ceremony for deceased Belarusian Foreign Minister Makei…

4 months ago

“Good Germans”. What did resistance look like in Nazi Germany?

1 month ago

Ksenia Sobchak returned to Russia, RIA Novosti reports,…

5 months ago

Newsletter

Be the first to get the news in the Telegram newsletter!

  • About
  • Contact
  • Privacy
  • Cookie
  • Terms
  • Donate
  • Advertise
  • Sitemap
contact@russianfreepress.com

© 2022 Russian Free Press - Honest news about Russia and the whole world.

No Result
View All Result
  • Home
  • All news
  • Russia
  • Ukraine
  • World
  • Tags
    • Navalny
    • Arrests and Attacks
    • Court
    • Kazakhstan
    • Coronavirus
    • Election 2021
    • Almaty
    • Putin
    • USA
    • Murders
    • Death
    • Rape
    • Germany
  • Special Projects
    • Stories
    • One year after

© 2022 Russian Free Press - Honest news about Russia and the whole world.

en_USEnglish
ru_RUРусский en_USEnglish