Yandex buys the remaining stake in Uber’s joint taxi business. In this respect informs Press service of the Russian company.
“Yandex has acquired Uber’s remaining stake in the Yandex Taxi group of companies. As a result of the transaction, Yandex will become the sole owner of the group, which includes taxi ordering, car sharing and scooter rental services.
It was noted that the parties received approval from the regulators. The transaction amount is 702.5 million dollars.
Yandex.Taxi and Uber merged in 2018 to transport passengers and deliver food to Russia and CIS countries. Later, a division was created to work on unmanned vehicles and mobile vehicles, as well as the Lavka food delivery service and the Yandex.Drive car-sharing service.
At the time of the creation of the joint venture, Yandex bought 59.3% of the shares, Uber – 36.9%. It is reported that in August 2021, the Russian company will increase its share to 71% and plans to take the remaining share by September 2023.
Earlier it became known that the Moskvich factory was in the presence of Moscow Mayor Sergei Sobyanin. signed The world’s largest contract for the supply of 2,000 Moskvich-3 electric vehicles to Yandex taxi and ridesharing services in 2023.