Corporate Valuations - News Uber to merge with Yandex in Russia, five other countries



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Uber to merge with Yandex in Russia, five other countries


Date: 13-July-2017

Yandex, the “Google of Russia”, and Uber have agreed to merge their ride-sharing businesses in Russia and five neighboring markets with Yandex as leading partner. Yandex and Uber said they will join forces in Russia, Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan to create a new company operating in some 127 cities. As part of the deal, Uber will contribute its UberEATS food delivery business in the six-country region to the new venture. San Francisco-based Uber has agreed to invest $225 million while Yandex has agreed to invest $100 million into a new joint company in which Yandex will own 59.3 percent, Uber hold 36.6 percent and employees having a 4.1 percent stake.

 
 
 
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