Yandex has completed the acquisition of Uber’s remaining stake in its joint taxi business, according to a statement from Yandex’s press service. The move solidifies Yandex’s control over the Yandex Taxi group of companies, which encompasses taxi dispatch, car sharing, and scooter rental services across Russia and the broader region. [Source: Yandex Press Service]
With the finalization of the deal, Yandex becomes the sole owner of the Yandex Taxi group. The closure marks a pivotal shift in ownership structure, aligning the business more tightly under Yandex’s strategic umbrella and positioning the company to optimize operations across its mobility ecosystem. The parties reportedly obtained regulatory clearance prior to completing the transaction, and the deal value is cited at 702.5 million dollars. [Source: Yandex Press Service]
Yandex Taxi and Uber first joined forces in 2018 to provide passenger transport and food delivery services across Russia and the Commonwealth of Independent States. Since the merger, the entities expanded into several adjacent areas, including autonomous vehicle research and development, as well as the Lavka food delivery platform and the Yandex.Drive car-sharing service. These ventures collectively contributed to a broader mobility and logistics strategy for the group. [Source: Yandex Press Service]
At the outset of the joint venture, Yandex held a majority stake, owning 59.3 percent, while Uber held 36.9 percent. Market movements and strategic planning over the following years saw Yandex increase its stake, with reports indicating a rise to 71 percent in August 2021, and plans to acquire the remaining shares by September 2023. This trajectory of ownership growth reflected a deliberate effort to consolidate control and align incentives within the expanded mobility portfolio. [Source: Yandex Press Service]
In related industry news, it was reported that Moscow’s Moskvich factory played a role in Yandex’s transportation ambitions. The city’s mayor, Sergei Sobyanin, was associated with the signing of a large-scale contract for the supply of 2,000 Moskvich-3 electric vehicles to Yandex Taxi and ridesharing services in 2023. The agreement underscored a public-private alignment aimed at expanding electric vehicle adoption and bolstering urban mobility options in the region. [Source: Yandex Press Service]