Tag Archives: stake

  Uber (UBER) is selling its equity stake in the two joint ventures it created with Yandex to Yandex for possibly around $2.8 billion in cash, which is above the $1 billion carrying value that Uber reported at the end of the second quarter. While this transaction will improve the firm’s liquidity position, it will not impact our $69 fair value estimate of this narrow-moat and 4-star stock. Uber will receive $1 billion by the end of this year for all its holding in an autonomous joint… Source link

Today in restaurant and grocery tech news, FreshDirect adds 250 SKUs of parent company Ahold Delhaize’s private label brands, and Russian food delivery company Yandex purchases a stake in Uber in a $1 billion deal. Plus, Nat Trienens, founder and CEO of digital ordering solutions provider Koala, discusses the delta variant’s effect on restaurant ordering habits. FreshDirect Woos Shoppers with Major Private Label Expansion, Lower Prices In a move to attract cost-conscious consumers with… Source link

Russian internet and ride-hail giant Yandex has acquired Uber’s stake in its Self-Driving Group (SDG), as well as Uber’s indirect interest in Yandex.Eats, Yandex.Lavka and Yandex.Delivery. The total cost of the deal came to $1 billion, giving the Russian company 100% ownership over all four businesses. Yandex SDG is an autonomous technology spinout from MLU B.V., the ride-hailing and food delivery joint venture Yandex formed with Uber in 2018 by merging… Source link

The US-based fund Fidelity Management & Research Company (FMR) has acquired a 4.5 percent stake in Russian internet search engine Yandex, reports Cnews.ru. The market price of this stake is UAS 1.17 billion. Five US-based funds now own stakes at Yandex.  Source link

(Bloomberg) — Elon Musk was acting as a proper chief executive officer as Tesla Inc. weighed the purchase of power provider SolarCity in 2016, his longtime ally and fellow Tesla director Antonio Gracias told a judge. A two-week trial over the billionaire CEO’s role in the $2 billion transaction wrapped up on Monday, and now Judge Joseph Slights III must decide whether Musk — who was the solar company’s chairman and largest shareholder at the time — properly removed himself from the… Source link

More than a quarter of the Los Angeles Lakers is about to have a new owner. Billionaire Philip Anschutz has reached an agreement to sell his 27 percent minority stake in the Lakers to an unknown buyer, according to Sportico’s Scott Soshnick and Eben Novy-Williams. The sale has reportedly not been approved by the NBA Board of Governors. The exact price tag of the deal is also unknown, but it is definitely going to be significant. The Lakers were estimated to be worth $4.6 billion by Forbes this… Source link

By Sam Nussey and Shinji Kitamura TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday. The sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for investing in growth. Panasonic’s battery business is dominated by Elon Musk’s Tesla, but the two firms have had a tense relationship at… Source link

The Supreme Court on Thursday released its highly anticipated decision on a challenge to the Affordable Care Act (ACA), also known as Obamacare. By a 7-2 vote, the court rejected the Republican-led challenge to the law.  Justice Stephen Breyer wrote the majority opinion saying that challengers — Texas, other Republican states, and two individuals — did not have legal standing to sue, meaning they couldn’t show they were harmed by the law. He was joined by Chief Justice John Roberts as… Source link

MOSCOW (Reuters) – Russian state bank VTB is ready to consider increasing its stake in internet company Yandex should Yandex decide to raise funds on the market, Interfax quoted First Deputy Chief Executive Yuri Soloviev as saying on Friday. Reporting by Maxim Rodionov; Writing by Katya Golubkova; Editing by Mark Heinrich Source link

(Bloomberg) — For a second week, the crypto market is being ruled by tweets from billionaire Elon Musk. The Tesla Inc. chief sent Bitcoin rallying back above $45,000 on Monday after clarifying that the company hasn’t sold any holdings of the digital token. It’s the latest post to whipsaw prices across the industry and fuel speculation over just why the electric-car pioneer is issuing crypto missives on a daily basis on Twitter. “He has to wake up to the reality that with his following,… Source link