Gazprombank to acquire 14 Russian MEGA shopping centres from Ingka Centres.

Gazprombank, a provider of a full range of commercial banking services for retail and institutional customers, agreed to acquire 14 Russian MEGA shopping centres from Ingka Centers, the parent company of IKEA. Financial terms were not disclosed. 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.