Ikea holding company Ingka Investments is paying an undisclosed sum for a 49% stake in financial services provider Ikano.
Ingka Investments, a holding company that owns Sweden-based furniture retailer Ikea, has agreed to acquire a 49% stake in financial services provider Ikano Bank for an undisclosed amount.
Ingka said it was acquiring the stake through the issue of new shares by Ikano Bank, with the option to acquire the remaining 51% at a later date.
Ikea and Ikano started from the same founding family and the bank has been Ikea’s financial service provider across eight countries.
Krister Mattsson, managing…
