Image credit: Yandex
Yandex (NASDAQ and MOEX: YNDX), one of Europe’s largest internet companies and the leading search and ride-hailing provider in Russia, announces that it has entered into a binding agreement with Uber to restructure the ownership of their joint ventures, MLU B.V. (“MLU”) and Yandex Self-Driving B.V. (“SDG”).
Under this agreement, for total consideration of $1.0 billion in cash, Yandex will receive:
Uber’s 33.5% indirect interest in Yandex.Eats, Yandex.Lavka and…
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