Moscow — Russian company Invest Plus on Monday said it had completed a deal to buy IKEA’s largest Russian production asset, its Novgorod factory, more than a year after the Swedish furniture giant first paused its activities in Russia over the Ukraine conflict.
“The process of concluding the deal was not easy and quite lengthy,” Invest Plus owner Vadim Osipov said in a statement, thanking all parties involved — IKEA, Russian and Swedish regulators, and Russia’s ministry of industry and trade. Invest Plus is a special purpose vehicle , beneficially owned by Osipov, who is CEO and co-owner of Slotex, a leading domestic producer of laminates and kitchen worktops.
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