31 Aug 2021 13:03

Yandex might consolidate 100% of Yandex.Taxi Group in two years for $2 bln

MOSCOW. Aug 31 (Interfax) - Yandex will increase its stake in Yandex.Taxi Group to 71%, including shares reserved for an incentive program, by buying out 4.5% from its partner Uber, the Russian Internet company announced.

Under the terms of the deal, Yandex will also get a two-year call option to acquire Uber's remaining 29% stake in Yandex.Taxi for $1.8 billion-$2 billion.

Yandex and Uber have been developing Yandex.Taxi Group as a joint venture since 2018. The ride hailing company operates in Russia, Azerbaijan, Armenia, Belarus, Georgia and Kazakhstan. The joint company MLU B.V. manages online ride hailing services under the Yandex.Taxi, Uber and Yango brands.