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Monday, March 27, 2023
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“Yandex” redeemed Uber shares in a number of its services for $1 billion

Date: March 27, 2023 Time: 03:08:04

Yandex has agreed to buy a 29% stake in MLU BV, the Russian company’s joint venture with Uber, for around $925 million. It is registered in the Netherlands and operates Yandex Taxi, Yango and the Uber brand in Russia and the CIS. RBC writes about it.

The joint venture between Uber and Yandex was created in February 2018. If the deal is approved, which the publication writes about, the Russian side will become the owner of 100% of the company.

In 2021, Yandex has already bought Uber’s shares in Yandex Food, Lavka, Delivery and its unmanned division. The right of first refusal to purchase a share in MLU BV remained with him. In March 2022, the US side announced that it plans to accelerate the sale of its part of the joint venture.

Yandex first announced a deal to buy Uber shares in August. The company then noted that it expects to accelerate business development through tighter integration of services and simplification of management processes.

Previously, Yandex adapted ten services and applications for blind users. Among them are “Taxi”, “Lavka”, “Maps” and “Post”. We talk about it in more detail here.

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

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