MOSCOW and AMSTERDAM, July 23, 2020 (GLOBE NEWSWIRE) — Yandex (NASDAQ and MOEX: YNDX) and Sberbank announced that they have completed the reorganization of their Joint Ventures – Yandex.Market and Yandex.Money.
Yandex now owns 100% of Yandex.Market, with an equity incentive pool set aside for Yandex.Market management. In addition, Yandex has exited the Yandex.Money Joint Venture. As a result, any financial services non-compete obligations between Yandex and Sberbank are now terminated.
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