ukrainian news - 15.10.2007

EBRD offers IKEA USD 100 mln loan for Ukraine stores

The European Bank for Reconstruction and Development (EBRD) will provide the Swedish company IKEA with a USD 100 million debt facility consisting of up to four loans to finance land acquisition and construction of MEGA shopping centres in Ukraine.
According to EBRD, MEGA Shopping Centres — developed and anchored by IKEA in several Ukrainian regions — would be the first of their kind in the country.
The European bank announced the total project cost is about USD 414 million.
Per Kaufman, IKEA’s CEO in Russia and CIS, recently said that IKEA is in the process of acquiring land near Odessa.

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