During the auction on Tuesday, December 21, the shares of the Russian company Yandex rose by 1.69 percent – up to 4.55 thousand rubles per piece. This happened after the IT company announced the completion of the transaction with Uber.
Yandex closed the transaction to redeem the share of Uber in Yandex.edo, “shop”, “delivery” as well as in the business of unmanned cars and rovers, the total amount amounted to a billion dollars. Yandex also acquired 4.5 percent of the shares of the joint venture MLU B.V.
In addition, “Yandex” will receive the right for two years to redeem the remaining share of Uber at a price recorded in the range of 1.8-2 billion dollars.
The coming deal became known at the end of August. “As a result of the Transaction” Yandex “, it expects to accelerate the pace of business development at the fast-growing e-commerce market and food due to closer integration of services and simplify management processes,” they talked to the company then.