Pfleiderer's Polish subsidiary, Pfleiderer Grajewo, and Ikea’s subsidiary Swedspan inked the final contract regarding the sale of all shares in the Russian particleboard manufacturer Pfleiderer OOO in Novgorod on 23 January. The preliminary take-over agreement was signed back on 19 October 2012. At that time, the parties had thought that the deal would close by 1 February 2013. The new contract firmed up the purchase price at €157.5m or PLZ656.7m. Ikea’s subsidiaries Ingka Pro Holding Subholding and Swedspan Holding will pay €111.9m (PLZ466.6m) for shares in the company; the final purchase price will be determined based on the conditions at the time of closing.
