Yandex bought out Uber’s share in the Yandex Taxi group of companies – Kommersant
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“Yandex” informed, which bought out the remaining share of Uber in the Yandex Taxi group of companies for $702.5 million. As a result of the transaction, Yandex became the sole owner of the group, which includes services for ordering a taxi, carsharing and renting scooters. The deal has been approved by regulators.
The closing of the transaction took place today, April 21, “Yandex” bought the remaining 28.98% of Uber’s stake in MLU for $ 702.5 million. Thus, “Yandex” became the sole owner of “Yandex.Taxi”. The company noted that by acquiring this stake, it completed “the consolidation of the ridetech and foodtech business lines of the company.”
Uber and Yandex formed a joint venture in February 2018. The company was registered in the Netherlands under the name MLU BV and operated a joint taxi business under the Yandex Go and Yango brands, as well as under the Uber brand in Russia. In 2021, Yandex bought out shares in Yandex Food, Yandex Lavka and Yandex Delivery from Uber for $1 billion. As a result of this transaction, Yandex’s share in MLU reached about 71%. In addition, the Russian company received a pre-emptive right to buy out the remaining 29% within two years.
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