IKEA is in the final stages of talks with Northvolt about participating in the b...
FILE PHOTO: The logo of the Swedish furniture giant IKEA is seen before the opening of the company's first store in the heart of Paris, France, May 6, 2019. REUTERS/Charles Platiau
STOCKHOLM - IKEA is in the final stages of talks with Northvolt about participating in the battery startup’s fundraising for a factory, the world’s biggest furniture retailer said on Wednesday. Sweden’s Northvolt is looking to raise 1.5 billion euros , split equally between debt and equity, and has asked the European Investment Bank for a 350 million euro loan.
“This project is very, very interesting and entirely in line with the sustainability investments that we make for the future,” said Daniela Rogosic, spokeswoman at Ingka Group, which owns most IKEA stores worldwide.IKEA is made up of a number of companies and foundations. Rogosic said the entity in talks to make the investment is Stichting IMAS Foundation, which manages financial assets on behalf of the Stichting INGKA Foundation, which owns Ingka Group.
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