The plan to transfer ownership of IKEA’s factories located in Russia is on track for completion in the first half of 2023, though it hinges on receiving the necessary government permissions. This headline was reported by Izvestia, which cited a statement from the company’s international division outlining the sequence of steps ahead for the Swedish retailer.
IKEA stated that the objective remains to finalize the sale within the first six months of 2023. Yet, officials noted that, in line with regulatory requirements, the deal must obtain official government clearance before any transfer can be finalized. The company’s messaging stressed that government approval is a prerequisite for the transaction to move forward, reflecting the sensitive nature of cross-border asset disposals within the Russian market.
Details about potential buyers have not been disclosed by the department, and no definitive list of interested parties has been publicly released. In Russia, IKEA operates several manufacturing sites, with facilities located in the Novgorod and Leningrad regions among others. Observers have highlighted that the buyer pool includes multiple private entities, though identities have not been officially confirmed at this stage. The situation underscores the complexity of asset divestments in the current geopolitical and economic climate, where regulatory scrutiny and strategic considerations shape each step of the process.
On December 26, regional authorities in the Novgorod Region noted progress toward closing the IKEA factory sale. At the end of the previous year, negotiations were reported to be near finalization, with a target to conclude the deal before the close of the first quarter of 2023. The asset has attracted interest from several private groups, described as more than one entity pursuing the opportunity. Market watchers have emphasized that any closing hinges on a combination of regulatory approvals, due diligence outcomes, and the ability of the purchaser to meet local compliance standards as well as broader political and economic conditions that influence such transactions (Source: Izvestia; Commentary from the regional government and IKEA’s international division). Note that details about buyer identities and exact terms remain confidential until formal announcements are made and approvals are granted.