Swedish furniture giant Ikea has acquired a 49% stake in Ikano Bank.
In Brief:
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The acquisition was made by Inkga Investments, Ikea’s parent company.
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The bank was established by the same founder as Ikea.
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Ikano Bank already operates as Ikea’s financial services provider in several countries.
What does this mean?
Ikea says it has made the move in order to offer banking services both online and instore. It will add to its customer offering and, it says, help make the store “affordable, accessible and sustainable”.
