Ingka Group takes 49% stake in Ikano Bank
Ingka Investments B.V. is to become part-owner of Ikano Bank AB (publ), which today is fully owned by Ikano S.A. Through the issue of new shares by Ikano Bank, Ingka Investments B.V. will obtain a 49% stake in the Bank, with the option to acquire the remaining shares at a later date. The transaction is subject to approvals by relevant regulatory authorities.
Ingka Group and Ikano Bank originate from the same founder, and share a heritage, strong culture and similar values. They already have a longstanding commercial partnership, where Ikano Bank has served as IKEA Retail’s financial service provider across eight countries. With this part-ownership in the Bank, Ingka and Ikano Bank will be able to maximise the potential of the existing relationship and provide financial services to customers, through a seamless end-to-end digitised experience, offered online or in-store.
Henrik Eklund, CEO, Ikano Bank, said: “We’re excited to welcome Ingka Group as a part owner of Ikano Bank. Together we will continue to develop accessible digital financial services for IKEA customers, our other valued partners and end customers.”
Krister Mattsson, Managing Director, Ingka Investments commented: “This agreement brings us a step closer to fulfilling Ingka Group’s ambition to offer competitive and accessible financial services, enabling even more people to have better homes and thereby, better lives.”
Read more in the joint press release.
Katarina Erichs Emilson, Head of Ikano Bank Communications
[email protected], +46 (0)10 330 0003
This announcement contains information which Ikano Bank AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation ((EU) No 596/2014 of 16 April 2014). The information was submitted for publication, through the agency of the contact person set out above, at 09.30 CET on 11 February, 2021.
Marie Gällstad, Head of Ikano Group Communications,
[email protected], +352 691 488 320
Ingka Group Media Relations
+46 (0) 709 936376