Yandex bought the remaining 29% in MLU B.V. from Uber. (Yandex Taxi) for $702.5 million. Now the company has become the sole owner of the business of ordering a taxi, carsharing and renting scooters.
Yandex noted that the deal will not affect the operation of services for users and partners.
With this acquisition, the company completes the consolidation of ridetech and foodtech businesses. Earlier, Yandex bought out shares in Yandex Food, Lavka, Delivery, as well as in the direction of unmanned vehicles and rovers from Uber.
The Russian government subcommittee on foreign investment control approved the Yandex deal with Uber on February 21. The condition for approval was the restriction of daily currency purchases on the Russian currency market by Yandex Technologies in the amount of $150 million to pay for the transaction. To receive the amount of $702.5 million, the purchase of the currency had to be extended over at least five trading sessions.
In February 2022, Uber announced that it would accelerate the sale of a stake in a joint venture with Yandex. In February 2023, Forbes sources reported that asset values have changed over the past year. Back in 2021, the amount of the deal was discussed at $1.8-2 billion.
In December 2022, it was reported that the Kismet Capital Group, the structure of the ex-head of MegaFon, Ivan Tavrin, made an offer to buy a stake for $925 million. However, Yandex had a pre-emptive right to buy out Uber's stake, although the company initially offered $400 million for it.
bbabo.Net